QuickLogic (QUIK) ended the recent trading session at $10.01, demonstrating a -1.86% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
Shares of the maker of chips for mobile and portable electronics manufacturers have depreciated by 15.49% over the course of the past month, underperforming the Computer and Technology sector's loss of 1.9%, and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of QuickLogic in its upcoming release. The company is predicted to post an EPS of -$0.05, indicating a 73.68% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $5.5 million, indicating a 170.94% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.06 per share and revenue of $24 million, indicating changes of +88.68% and +74.24%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for QuickLogic. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 past month, the Zacks Consensus EPS estimate remained stagnant. Currently, QuickLogic is carrying a Zacks Rank of #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 58, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).