QuickLogic (QUIK) closed at $6.70 in the latest trading session, marking a -6.94% move from the prior day. This change lagged the S&P 500's 0.53% gain on the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, added 0.52%.
Prior to today's trading, shares of the maker of chips for mobile and portable electronics manufacturers had gained 19.01% outpaced the Computer and Technology sector's gain of 2.01% and the S&P 500's gain of 0.71%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.21, reflecting a 250% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.1 million, indicating a 50.82% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.38 per share and a revenue of $15.7 million, demonstrating changes of -1050% and -21.94%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for QuickLogic. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate remained stagnant. Currently, QuickLogic is carrying a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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