QuickLogic (QUIK) ended the recent trading session at $6.21, demonstrating a -3.57% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.24%.
The maker of chips for mobile and portable electronics manufacturers's stock has climbed by 7.87% in the past month, exceeding the Computer and Technology sector's gain of 6.84% and the S&P 500's gain of 4.61%.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company is predicted to post an EPS of -$0.07, indicating a 40% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4 million, indicating a 3.15% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.02 per share and revenue of $22.75 million. These totals would mark changes of -150% and +13.12%, respectively, from last 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. QuickLogic is holding a Zacks Rank of #3 (Hold) right now.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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