QuickLogic (QUIK) closed at $8.53 in the latest trading session, marking a -3.4% move from the prior day. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq appreciated by 0.28%.
Shares of the maker of chips for mobile and portable electronics manufacturers witnessed a gain of 37.97% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.43%, and the S&P 500's gain of 0.6%.
Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company is expected to report EPS of -$0.11, down 375% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $3.5 million, indicating a 38.6% decline compared to the corresponding quarter of the prior year.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for QuickLogic. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. 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. This represents a premium compared to its industry average Forward P/E of 36.99.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 52, putting it in the top 22% of all 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.
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QuickLogic Corporation (QUIK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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