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QuickLogic (QUIK) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest trading session, QuickLogic (QUIK - Free Report) closed at $8.91, marking a -1.66% move from the previous day. This change lagged the S&P 500's daily gain of 1.04%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 1.03%.
Heading into today, shares of the maker of chips for mobile and portable electronics manufacturers had lost 15.88% over the past month, lagging the Computer and Technology sector's loss of 13.91% and the S&P 500's loss of 6.74% in that time.
Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 13, 2024. The company's upcoming EPS is projected at $0.01, signifying a 108.33% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.5 million, up 54.11% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.50 per share and revenue of $27.5 million. These totals would mark changes of +194.12% and +29.73%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. QuickLogic presently features a Zacks Rank of #3 (Hold).
Digging into valuation, QuickLogic currently has a Forward P/E ratio of 18.12. This valuation marks a discount compared to its industry's average Forward P/E of 30.73.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 153, placing it within the bottom 40% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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QuickLogic (QUIK) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, QuickLogic (QUIK - Free Report) closed at $8.91, marking a -1.66% move from the previous day. This change lagged the S&P 500's daily gain of 1.04%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 1.03%.
Heading into today, shares of the maker of chips for mobile and portable electronics manufacturers had lost 15.88% over the past month, lagging the Computer and Technology sector's loss of 13.91% and the S&P 500's loss of 6.74% in that time.
Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 13, 2024. The company's upcoming EPS is projected at $0.01, signifying a 108.33% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.5 million, up 54.11% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.50 per share and revenue of $27.5 million. These totals would mark changes of +194.12% and +29.73%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. QuickLogic presently features a Zacks Rank of #3 (Hold).
Digging into valuation, QuickLogic currently has a Forward P/E ratio of 18.12. This valuation marks a discount compared to its industry's average Forward P/E of 30.73.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 153, placing it within the bottom 40% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.