In the latest trading session, QuickLogic (QUIK) closed at $11.94, marking a -3.71% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 1.79%, and the technology-centric Nasdaq increased by 1.52%.
Shares of the maker of chips for mobile and portable electronics manufacturers witnessed a gain of 30.8% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.24%, and the S&P 500's gain of 5.15%.
The upcoming earnings release of QuickLogic will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 14.29% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.5 million, up 27.31% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0 per share and a revenue of $24.7 million, signifying shifts of +100% and +79.32%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for QuickLogic. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. QuickLogic currently has 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 83, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).