QuickLogic (QUIK) closed the most recent trading day at $8.82, moving -7.79% from the previous trading session. This move lagged the S&P 500's daily loss of 1.21%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 2.6%.
The maker of chips for mobile and portable electronics manufacturers's shares have seen a decrease of 14.83% over the last month, not keeping up with the Computer and Technology sector's loss of 3.87% and the S&P 500's loss of 0.03%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.05, signifying a 73.68% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.5 million, reflecting a 170.94% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.06 per share and revenue of $24 million, which would represent changes of +88.68% and +74.24%, 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.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. QuickLogic presently features a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 35% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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QuickLogic Corporation (QUIK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).