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Investing.com - Northland downgraded QuickLogic (NASDAQ:QUIK) from Outperform to Market Perform on Wednesday, while setting a price target of $5.95, significantly below the current trading price of $7.17. This target sits at the low end of analyst projections, with the highest target at $10.
The downgrade follows QuickLogic’s recent earnings report, which showed revenue in line with guidance and non-GAAP EPS expectations. InvestingPro data reveals the company has seen a substantial 23.21% revenue decline over the last twelve months and remains unprofitable, with a diluted EPS of -$0.49.
Northland cited valuation concerns as a key reason for the downgrade, along with uncertainty around a $3 million contract that may materialize in either Q4 or Q1, resulting in a wide guidance range.
The research firm noted that QuickLogic expects to sign several agreements in the coming weeks and generate revenue from its test chip and development boards in early 2026.
Northland has lowered its estimates for QuickLogic and indicated it will wait for "more material progress on the commercialization" before reconsidering its rating.
In other recent news, QuickLogic Corporation reported its Q3 2025 earnings and revenue, which fell significantly short of expectations. The company posted an earnings per share (EPS) of -$0.19, a stark contrast to the anticipated $0.07. Additionally, QuickLogic’s revenue was reported at $2.03 million, missing the forecasted $6.45 million. These results have drawn attention from investors and analysts alike. Despite the disappointing financial performance, no recent upgrades or downgrades from analysts have been reported. The company’s financial results are a key focus for stakeholders assessing QuickLogic’s current position and future prospects. This development highlights the challenges the company faces in meeting market expectations.
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