QuickLogic (QUIK) Advances While Market Declines: Some Information for Investors
QuickLogic (QUIK) closed at $8.26 in the latest trading session, marking a +0.85% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.04%.
The maker of chips for mobile and portable electronics manufacturers's shares have seen an increase of 13.44% over the last month, surpassing the Computer and Technology sector's gain of 4.44% and the S&P 500's gain of 3.77%.
Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. In that report, analysts expect QuickLogic to post earnings of -$0.05 per share. This would mark a year-over-year decline of 138.46%. Simultaneously, our latest consensus estimate expects the revenue to be $4.2 million, showing a 37.03% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.35 per share and a revenue of $24.4 million, indicating changes of +105.88% and +15.11%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for QuickLogic. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, QuickLogic boasts a Zacks Rank of #3 (Hold).
With respect to valuation, QuickLogic is currently being traded at a Forward P/E ratio of 23.4. Its industry sports an average Forward P/E of 33.1, so one might conclude that QuickLogic is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons of all 250+ industries.
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.
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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QuickLogic Corporation (QUIK) : Free Stock Analysis Report