QuickLogic (QUIK) closed the most recent trading day at $16.26, moving +1.5% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.72%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.12%.
The maker of chips for mobile and portable electronics manufacturers's stock has dropped by 19.9% in the past month, falling short of the Computer and Technology sector's loss of 6.12% and the S&P 500's loss of 0.9%.
Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.04, showcasing a 55.56% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6 million, up 62.6% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.02 per share and revenue of $25.5 million, indicating changes of +103.77% and +85.13%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for QuickLogic. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. QuickLogic currently has a Zacks Rank of #4 (Sell).
Looking at valuation, QuickLogic is presently trading at a Forward P/E ratio of 801. Its industry sports an average Forward P/E of 49.81, so one might conclude that QuickLogic is trading at a premium comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 22% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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QuickLogic Corporation (QUIK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).