QuickLogic (QUIK) ended the recent trading session at $6.71, demonstrating a -4.82% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 0.09%.
Coming into today, shares of the maker of chips for mobile and portable electronics manufacturers had gained 15.39% in the past month. In that same time, the Computer and Technology sector gained 6.2%, while the S&P 500 gained 4.37%.
The investment community will be closely monitoring the performance of QuickLogic in its forthcoming earnings report. The company is predicted to post an EPS of -$0.07, indicating a 40% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4 million, reflecting a 3.15% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.02 per share and a revenue of $22.75 million, signifying shifts of -150% and +13.12%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. QuickLogic is currently a Zacks Rank #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
QuickLogic Corporation (QUIK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
