QuickLogic price target raised to $16 from $12 at Oppenheimer

Oppenheimer raised the firm’s price target on QuickLogic to $16 from $12 and keeps an Outperform rating on the shares following quarterly results. The firm says Q1 guidance implies 50% year-over-year revenue growth led by new product growth of 67% year-over-year. Oppenheimer remains confident in QuickLogic’s growth and profitability outlook given its strong pipeline and margin expansion.