In the latest trading session, QuickLogic (QUIK) closed at $7.36, marking a -8% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.43%. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq lost 0.94%.
The maker of chips for mobile and portable electronics manufacturers's shares have seen an increase of 33.11% over the last month, surpassing the Computer and Technology sector's gain of 1.51% and the S&P 500's gain of 0.89%.
The upcoming earnings release of QuickLogic will be of great interest to investors. On that day, QuickLogic is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 375%. Alongside, our most recent consensus estimate is anticipating revenue of $3.5 million, indicating a 38.6% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.48 per share and a revenue of $13.6 million, indicating changes of -1300% and 0%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for QuickLogic. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, QuickLogic possesses a Zacks Rank of #3 (Hold).
Looking at valuation, QuickLogic is presently trading at a Forward P/E ratio of 160. This denotes a premium relative to the industry average Forward P/E of 39.08.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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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