In the latest market close, QuickLogic (QUIK) reached $4.53, with a -1.52% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 2.36%. Elsewhere, the Dow lost 2.48%, while the tech-heavy Nasdaq lost 2.55%.
The maker of chips for mobile and portable electronics manufacturers's shares have seen a decrease of 18.15% over the last month, not keeping up with the Computer and Technology sector's loss of 8.4% and the S&P 500's loss of 5.6%.
Market participants will be closely following the financial results of QuickLogic in its upcoming release. It is anticipated that the company will report an EPS of -$0.08, marking a 172.73% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4 million, reflecting a 33.44% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.16 per share and a revenue of $24.37 million, demonstrating changes of +300% and +21.15%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, QuickLogic holds a Zacks Rank of #3 (Hold).
Looking at its valuation, QuickLogic is holding a Forward P/E ratio of 29.68. This valuation marks a premium compared to its industry's average Forward P/E of 19.3.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 43, finds itself in the top 18% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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QuickLogic Corporation (QUIK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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