QuickLogic (QUIK) closed the most recent trading day at $5.53, moving -5.47% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.1%. Elsewhere, the Dow saw an upswing of 0.57%, while the tech-heavy Nasdaq depreciated by 0.33%.
Heading into today, shares of the maker of chips for mobile and portable electronics manufacturers had gained 4.09% over the past month, lagging the Computer and Technology sector's gain of 5.94% and outpacing the S&P 500's gain of 2.57%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. The company is expected to report EPS of -$0.21, down 250% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $2.1 million, showing a 50.82% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.38 per share and a revenue of $15.7 million, signifying shifts of -1050% and -21.94%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for QuickLogic. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. QuickLogic is holding a Zacks Rank of #4 (Sell) right now.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 193, placing it within the bottom 22% of over 250 industries.
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.
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QuickLogic Corporation (QUIK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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