QuickLogic (QUIK) closed at $6.83 in the latest trading session, marking a +2.71% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.16%. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, lost 0.76%.
Heading into today, shares of the maker of chips for mobile and portable electronics manufacturers had gained 17.59% over the past month, outpacing the Computer and Technology sector's gain of 3.34% and the S&P 500's gain of 1.14%.
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 -$0.21, indicating a 250% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.1 million, down 50.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.38 per share and a revenue of $15.7 million, representing changes of -1050% and -21.94%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, QuickLogic is carrying a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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