QuickLogic (QUIK) closed at $10.38 in the latest trading session, marking a -4.33% move from the prior day. This change lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, lost 0.44%.
The stock of maker of chips for mobile and portable electronics manufacturers has risen by 0.28% in the past month, lagging the Computer and Technology sector's gain of 4.85% and the S&P 500's gain of 2.36%.
Market participants will be closely following the financial results of QuickLogic in its upcoming release. The company is expected to report EPS of -$0.05, up 73.68% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.5 million, up 170.94% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.06 per share and a revenue of $24 million, indicating changes of +88.68% and +74.24%, respectively, from the former 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, QuickLogic is carrying a Zacks Rank of #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 39% of all industries, numbering over 250.
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).