The latest trading session saw QuickLogic (QUIK – Free Report) ending at $4.62, denoting no adjustment from its last day’s close. The stock outperformed the S&P 500, which registered a daily loss of 5.98%. At the same time, the Dow lost 5.5%, and the tech-heavy Nasdaq lost 5.82%.
The maker of chips for mobile and portable electronics manufacturers’s shares have seen a decrease of 25.12% over the last month, not keeping up with the Computer and Technology sector’s loss of 10.81% and the S&P 500’s loss of 7.66%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. The company is expected to report EPS of -$0.08, down 172.73% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $4 million, indicating a 33.44% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.16 per share and a revenue of $24.37 million, signifying shifts of +300% and +21.15%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for QuickLogic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QuickLogic is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, QuickLogic currently has a Forward P/E ratio of 29.81. This expresses a premium compared to the average Forward P/E of 20.27 of its industry.
The Electronics – Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 47, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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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