QuickLogic Corporation (NASDAQ:QUIK) Ready for Another Rally?


QuickLogic Corporation (NASDAQ:QUIK) has been struggling for the most of a year until early March of this year. The rise was rather dramatic, so it was very much expected to see a period of consolidation before making its next move. But, this never came and instead the price saw a quick reversal plummeting the latter half of March and throughout April and May to hit a low of $1.15 on May 30th. June began with a fairly muted response from the bulls until June 23rd, when a flurry of news came out propelling the stock up to $1.62. QUIK has pulled back to $1.44, but it looks to be forming a bull flag on the daily timeframe, so there is reason to be optimistic.

QUIK enables OEMs to maximize battery life for highly differentiated, immersive user experiences with Smartphone, wearable and IoT devices. QuickLogic delivers these benefits through industry leading ultra-low power customer programmable SoC semiconductor solutions, embedded software, and algorithms for always-on voice and sensor processing.

QuickLogic Corporation (NASDAQ:QUIK) embedded FPGA initiative also enables SoC designers to easily implement post production changes, and increase revenue by providing hardware programmability to their end customers.

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As previously mentioned, the share price saw a 33% rise on June 23rd due to multiple announcements regarding its EOS S3 multi core system. Firstly, QuickLogic announced that it is working with AISpeech, a company that delivers Artificial Intelligence speech technology mainly to the Chinese market. This is a very exciting collaboration because it utilizes the ultra-low power voice capabilities of QuickLogic’s EOS S3 multi-core system on a Chip (SoC) to enable mobile, wearable and IoT devices to access the AISpeech cloud-based digital assistant. The first product to leverage QuickLogic’s EOS S3 system is the Qiwo “hearable” Bluetooth headset.

Brian Faith, QuickLogic’s president and CEO stated:

“Voice-controlled interfaces are the key technology driver for the next generation of mobile, wearable and IoT devices. Our unique implementation of Sensory, Inc. voice technology, and our ability to include multiple voice trigger words in a single design, places us on the forefront of this trend. Our collaboration with companies, such as AISpeech, reflects our commitment to establishing a strong global ecosystem of partners.”

The second piece of major news to come out this day was that Qiwo Smartlink Technology Company, Ltd. has chosen the EOS S3 multi core voice system to be used in its new line of Bluetooth headsets that will go into production later in the year. This is ushering in the new era for bluetooth headsets as these new voice enabled smart hearable devices are continuously detecting trigger words and implementing voice control technology. The hardware integration of Sensory, Inc. Low Power Sound Detection (LPSD) technology in the QuickLogic EOS S3 platform enables always-on voice recognition and voice control at substantially lower power consumption than any other MCU-based device.

QuickLogic’s multi core voice system has been widely praised and Janyun, a developer of cloud-based applications, wearable and IoT products also announced it was ready to jump on board and utilize this technology. It has selected the company’s EOS S3 Sensor Processing Platform for its new voice enabled GPS smartwatch. Janyun design engineers leveraged the System on a Chip (SoC) capabilities of the EOS S3 platform to optimize power consumption and features while minimizing chip count and cost.

Saicheng Tang, CEO of Janyun stated: “The QuickLogic EOS S3 SoC is an ideal solution for our wearable and IoT ODM designs, the EOS S3 platform provides us with a single chip, multi-core solution that optimizes our designs for cost, ultra-low power consumption, and design flexibility that enables us to support multiple end customer use cases with a single platform. We view these capabilities as essential to our success in the development of our ODM business model.”

The Bottom Line: So, a lot of hype and positive news surrounding the QuickLogic Corporation (NASDAQ:QUIK) EOS S3 system with many companies deciding to utilize their technology. This bodes well for future contracts as credibility will enhance the more their technology is onboarded, especially in the Artificial Intelligence space. The stock is possibly undervalued. Time will tell of course but this seems like a good entry point. For continuing coverage on shares of QUIK stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!


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