In the latest close session, QuickLogic (QUIK) was down 2.46% at $12.68. The stock's performance was behind the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a loss of 0.59%, and the technology-centric Nasdaq decreased by 0.05%.
The maker of chips for mobile and portable electronics manufacturers's shares have seen a decrease of 40.64% over the last month, not keeping up with the Computer and Technology sector's loss of 4.32% and the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.04, marking a 55.56% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $6 million, showing a 62.6% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.02 per share and a revenue of $25.5 million, representing changes of +103.77% and +85.13%, respectively, from the prior year.
Investors might also notice recent changes to 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, QuickLogic possesses a Zacks Rank of #3 (Hold).
Looking at valuation, QuickLogic is presently trading at a Forward P/E ratio of 650. For comparison, its industry has an average Forward P/E of 43.65, which means QuickLogic is trading at a premium to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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).