In the latest close session, QuickLogic (QUIK) was down 8.05% at $13.03. The stock trailed the S&P 500, which registered a daily loss of 0.51%. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq decreased by 1.47%.
Shares of the maker of chips for mobile and portable electronics manufacturers have depreciated by 32.07% over the course of the past month, underperforming the Computer and Technology sector’s loss of 2.99%, and the S&P 500’s gain of 0.53%.
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 -$0.04, up 55.56% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6 million, up 62.6% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.02 per share and a revenue of $25.5 million, representing changes of +103.77% and +85.13%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there’s been no change in the Zacks Consensus EPS estimate. Currently, QuickLogic is carrying a Zacks Rank of #3 (Hold).
Investors should also note QuickLogic’s current valuation metrics, including its Forward P/E ratio of 708.5. This expresses a premium compared to the average Forward P/E of 48.19 of its industry.
The Electronics – Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks’ Research Chief Names “Stock Most Likely to Double”
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company’s customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
QuickLogic Corporation (QUIK) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
