QuickLogic (QUIK) ended the recent trading session at $6.00, demonstrating a +1.69% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.03% for the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.13%.
The maker of chips for mobile and portable electronics manufacturers's shares have seen an increase of 6.5% over the last month, surpassing the Computer and Technology sector's gain of 3.02% and the S&P 500's gain of 0.6%.
The upcoming earnings release of QuickLogic will be of great interest to investors. The company's upcoming EPS is projected at -$0.07, signifying a 40.00% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4 million, down 3.15% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.02 per share and a revenue of $22.75 million, indicating changes of -150% and +13.12%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for QuickLogic. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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 witnessed a 50% decrease. QuickLogic presently features a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 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.
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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