NEW YORK (TheStreet) -- QuickLogic
(QUIK - Get Report) stock is dropping on Thursday after the fabless semiconductor company guided for weakness in its second quarter.
By midmorning, shares of the micro-cap had plummeted 19% to $3.83.
In a post-earnings conference call, CFO Ralph Marimon guided for an adjusted net loss of 5 cents a share and revenue of $6.5 million, plus or minus 10%, over the second quarter to June.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Analysts surveyed by Thomson Reuters
had anticipated a net loss of 4 cents a share and revenue inline with guidance.
"Total revenue is expected to be comprised of approximately $4.5 million of new product revenue and $2 million of mature product revenue. The decline in new product revenue reflects reduced shipments of a display solutions into the tablet segment," said Marimon.
In its first quarter, QuickLogic reported a net loss of 4 cents a share, inline with expectations, and revenue of $11.2 million, higher than forecasts for $10.1 million.
TheStreet Ratings team rates QUICKLOGIC CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate QUICKLOGIC CORP (QUIK) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been unimpressive growth in net income over time."
Must Read: Warren Buffett's 10 Favorite Growth Stocks
STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts