QuickLogic (QUIK) ended the recent trading session at $15.65, demonstrating a -3.34% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.42%. On the other hand, the Dow registered a gain of 0.29%, and the technology-centric Nasdaq increased by 0.29%.
Coming into today, shares of the maker of chips for mobile and portable electronics manufacturers had lost 25.73% in the past month. In that same time, the Computer and Technology sector gained 0.85%, while the S&P 500 gained 2.2%.
The investment community will be closely monitoring the performance of QuickLogic in its forthcoming earnings report. The company is expected to report EPS of -$0.04, up 55.56% from the prior-year quarter. 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.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for QuickLogic. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about 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, there's been no change in the Zacks Consensus EPS estimate. At present, QuickLogic boasts a Zacks Rank of #4 (Sell).
In the context of valuation, QuickLogic is at present trading with a Forward P/E ratio of 809.5. This expresses a premium compared to the average Forward P/E of 49.7 of its industry.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 42, positioning it in the top 18% 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.
To follow QUIK in the coming trading sessions, be sure to utilize Zacks.com.
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