QuickLogic (QUIK) closed the most recent trading day at $9.34, moving -1.48% from the previous trading session. This change lagged the S&P 500's daily gain of 0.33%. Elsewhere, the Dow saw an upswing of 1.08%, while the tech-heavy Nasdaq appreciated by 0.08%.
The maker of chips for mobile and portable electronics manufacturers's shares have seen a decrease of 5.29% over the last month, not keeping up with the Computer and Technology sector's gain of 1.62% and the S&P 500's gain of 1.41%.
Market participants will be closely following the financial results of QuickLogic in its upcoming release. The company is predicted to post an EPS of -$0.05, indicating a 73.68% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.5 million, up 170.94% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.06 per share and revenue of $24 million, indicating changes of +88.68% and +74.24%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QuickLogic is holding a Zacks Rank of #3 (Hold) right now.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).