QuickLogic (QUIK) closed the most recent trading day at $5.62, moving -1.06% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.52%.
Shares of the maker of chips for mobile and portable electronics manufacturers have depreciated by 30.14% over the course of the past month, underperforming the Computer and Technology sector's loss of 12.04% and the S&P 500's loss of 7.33%.
Market participants will be closely following the financial results of QuickLogic in its upcoming release. The company's upcoming EPS is projected at -$0.08, signifying a 172.73% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4 million, down 33.44% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.16 per share and revenue of $24.37 million. These totals would mark changes of +300% and +21.15%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for QuickLogic. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 witnessed a 5.56% decrease. QuickLogic currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that QuickLogic has a Forward P/E ratio of 36.65 right now. This signifies a premium in comparison to the average Forward P/E of 25.64 for its industry.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 32% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
