This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

QuickLogic: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of QuickLogic (QUIK - Get Report) slumped in a quiet after-hours session on Friday after the Sunnyvale, Calif.-based chip maker lowered its revenue outlook.

The company, which develops semiconductor products for tablets, smartphones and broadband data cards, said it now sees revenue of $5.5 million for its fiscal first quarter ended in March, below a prior forecast for revenue within 10% plus or minus of $6.8 million.

The current average estimate of two analysts polled by Thomson Reuters is for breakeven results on revenue of $6.8 million in the March period.



The stock was last quoted at $4.15, down 14.8%, on volume of around 24,000, according to Nasdaq.com. Based on a regular session close at $4.87, the shares have gained more than 65% in the past yea but the 52-week high of $7.20 came back on Jan. 6, and the stock has lost 22% so far in 2011.

QuickLogic attributed the shortfall to a number of factors, including below-forecast sales by two of its largest Tier 1 OEM [original equipment maker] customers in its broadband data card business and a product delay by a customer that impacted its secure access datacard business.

"While it is unfortunate that we had large, unrelated shortfalls within the same quarter, we are encouraged by our continued positive progress in the smartphone and tablet markets," said Andy Pease, the company's president and CEO, in a statement.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to: tips@thestreet.com
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
QUIK $1.52 32.17%
AAPL $122.37 -0.50%
FB $95.21 -1.84%
GOOG $632.59 0.10%
TSLA $266.79 1.13%

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs