QuickLogic (QUIK) ended the recent trading session at $19.94, demonstrating a -9.12% change from the preceding day's closing price. This change lagged the S&P 500's 1.44% loss on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 2.22%.
The stock of maker of chips for mobile and portable electronics manufacturers has risen by 9.08% in the past month, leading the Computer and Technology sector's gain of 0.98% and the S&P 500's gain of 0.08%.
The upcoming earnings release of QuickLogic will be of great interest to investors. In that report, analysts expect QuickLogic to post earnings of -$0.04 per share. This would mark year-over-year growth of 55.56%. Meanwhile, the latest consensus estimate predicts the revenue to be $6 million, indicating a 62.6% increase compared to the same quarter of the previous year.
QUIK's full-year Zacks Consensus Estimates are calling for earnings of $0.02 per share and revenue of $25.5 million. These results would represent year-over-year changes of +103.77% and +85.13%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has remained steady. QuickLogic is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, QuickLogic is currently being traded at a Forward P/E ratio of 1096.75. This denotes a premium relative to the industry average Forward P/E of 56.17.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% of all 250+ industries.
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.
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).