In the latest trading session, QuickLogic (QUIK) closed at $6.72, marking a -4.27% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 1.86%.
Coming into today, shares of the maker of chips for mobile and portable electronics manufacturers had gained 14.71% in the past month. In that same time, the Computer and Technology sector gained 3.49%, while the S&P 500 gained 2.45%.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.21, reflecting a 250% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2.1 million, down 50.82% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.38 per share and revenue of $15.7 million, indicating changes of -1050% and -21.94%, respectively, compared to the previous 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, QuickLogic possesses 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 68, which puts it in the top 28% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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