Why QuickLogic Shares Are Skyrocketing Today

QuickLogic Corporation QUIK shares are trading higher by 15.96% to $7.34 Thursday morning after the company announced it was awarded a $6.9 million base contract to develop strategic radiation hardened FPGA technology.

QuickLogic says the SRH FPGA Other Transactions Authority (OTA) agreement is with the Army Contracting Command – Rock Island (ACC-RI) under the authority of the Cornerstone OTA and will be based on a microelectronic fabrication process implemented at a US-owned and continental US (CONUS)-based manufacturing facility.

QuickLogic says the project is sponsored by DoD's Trusted and Assured Microelectronics (T&AM) Program, and Naval Surface Warfare Center (NSWC) Crane is the Government's technical lead.

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According to data from Benzinga Pro, QuickLogic has a 52-week high of $9.21 and a 52-week low of $4.25.