QuickLogic price target lowered to $13 from $16 at Oppenheimer

Oppenheimer analyst Martin Yang lowered the firm’s price target on QuickLogic to $13 from $16 and keeps an Outperform rating on the shares. The firm notes Q2 revenue/EPS of $6.0M/$0.12 compared to consensus’ $4.5M/$0.01 estimates. Q3 revenue guidance implies 37% year-over-year decline, Oppenheimer adds.