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QuickLogic (QUIK) Declines More Than Market: Some Information for Investors

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QuickLogic (QUIK - Free Report) ended the recent trading session at $11.46, demonstrating a -1.88% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.71%. Meanwhile, the Dow lost 0.93%, and the Nasdaq, a tech-heavy index, lost 0.81%.

Prior to today's trading, shares of the maker of chips for mobile and portable electronics manufacturers had gained 14.96% over the past month. This has outpaced the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08% in that time.

The investment community will be closely monitoring the performance of QuickLogic in its forthcoming earnings report. The company is forecasted to report an EPS of $0.01, showcasing a 108.33% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.5 million, indicating a 54.11% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $0.50 per share and a revenue of $27.5 million, demonstrating changes of +194.12% and +29.73%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for QuickLogic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. QuickLogic is holding a Zacks Rank of #3 (Hold) right now.

From a valuation perspective, QuickLogic is currently exchanging hands at a Forward P/E ratio of 23.36. This indicates a discount in contrast to its industry's Forward P/E of 35.4.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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