QuickLogic (QUIK) ended the recent trading session at $6.25, demonstrating a -2.65% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.54%. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq appreciated by 0.74%.
Shares of the maker of chips for mobile and portable electronics manufacturers have appreciated by 7% over the course of the past month, outperforming the Computer and Technology sector's gain of 5.77%, and the S&P 500's gain of 4.2%.
The upcoming earnings release of QuickLogic will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.07, reflecting a 40% decrease from the same 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 full year, the Zacks Consensus Estimates are projecting earnings of -$0.02 per share and revenue of $22.75 million, which would represent changes of -150% and +13.12%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for QuickLogic. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, QuickLogic boasts a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 56, positioning it in the top 23% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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QuickLogic Corporation (QUIK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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