QuickLogic (QUIK) closed at $9.00 in the latest trading session, marking a +1.93% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.16%. Elsewhere, the Dow gained 1.21%, while the tech-heavy Nasdaq added 1.18%.
Shares of the maker of chips for mobile and portable electronics manufacturers witnessed a gain of 35.85% over the previous month, beating the performance of the Computer and Technology sector with its loss of 1.07%, and the S&P 500's loss of 0.42%.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company's upcoming EPS is projected at -$0.11, signifying a 375.00% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.5 million, down 38.6% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.48 per share and revenue of $13.6 million. These totals would mark changes of -1300% and 0%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. QuickLogic is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, QuickLogic is presently trading at a Forward P/E ratio of 176.6. For comparison, its industry has an average Forward P/E of 36.82, which means QuickLogic is trading at a premium to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 48, finds itself in the top 20% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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