by Sam Collins | February 18, 2014 1:07 am
QuickLogic (QUIK) — This fabless semiconductor company designs, markets and supports customized semiconductor solutions for tablets, smartphones, etc. I covered the stock on Jan. 7, when it was trading at $4.55, noting that it received “buy” recommendations from Zacks, Michael Ashbaugh, Michael Murphy and others.
On Feb. 5, the company reported total revenue for 2013 was up 74% at $26.1 million versus $14.9 million in 2012. The net loss for 2013 was $0.27 a share compared with a loss of $0.29 in 2012. The company continues to be ranked highly for appreciation by Benzinga, Michael Murphy and Zacks.
This highly speculative recommendation is based solely on a very strong chart breakout. Following my previous write-up, the stock jumped to $5 before falling on profit-taking to a low of $4.18 late last month. It has since rallied back to $5, forming a bullish “V,” and on Friday, MACD flashed a buy signal.
QUIK is likely to break out with a trading target of $6.25. The longer-term target is $10. This trade is only suitable for investors with the means to take on a high degree of risk.
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