In the latest trading session, QuickLogic (QUIK) closed at $18.97, marking a +2.37% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 1.18% for the day. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 2.07%.
The maker of chips for mobile and portable electronics manufacturers's shares have seen a decrease of 10.61% over the last month, not keeping up with the Computer and Technology sector's loss of 5.33% and the S&P 500's loss of 2.9%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. In that report, analysts expect QuickLogic to post earnings of -$0.04 per share. This would mark year-over-year growth of 55.56%. Alongside, our most recent consensus estimate is anticipating revenue of $6 million, indicating a 62.6% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.02 per share and revenue of $25.5 million. These totals would mark changes of +103.77% and +85.13%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for QuickLogic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. QuickLogic currently has a Zacks Rank of #4 (Sell).
In terms of valuation, QuickLogic is currently trading at a Forward P/E ratio of 926.5. This signifies a premium in comparison to the average Forward P/E of 51.73 for its industry.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).