QuickLogic (QUIK) closed at $11.88 in the latest trading session, marking a -4.35% move from the prior day. This change lagged the S&P 500's 0.41% loss on the day. Elsewhere, the Dow saw a downswing of 0.36%, while the tech-heavy Nasdaq depreciated by 0.89%.
The stock of maker of chips for mobile and portable electronics manufacturers has risen by 24.57% in the past month, leading the Computer and Technology sector's gain of 14.93% and the S&P 500's gain of 9.71%.
Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.06, showcasing a 14.29% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $5.5 million, reflecting a 27.31% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0 per share and revenue of $24.7 million. These totals would mark changes of +100% and +79.32%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. QuickLogic currently has a Zacks Rank of #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 39% 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.
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 Report
This article originally published on Zacks Investment Research (zacks.com).