QuickLogic (QUIK) closed the most recent trading day at $8.51, moving +0.35% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.12% for the day. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.23%.
Prior to today's trading, shares of the maker of chips for mobile and portable electronics manufacturers had gained 4.82% over the past month. This has outpaced the Computer and Technology sector's loss of 3.73% and the S&P 500's loss of 3.45% in that time.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company is predicted to post an EPS of $0.03, indicating an 83.33% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.1 million, down 18.45% from the year-ago period.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 350% lower. QuickLogic is currently a Zacks Rank #3 (Hold).
In terms of valuation, QuickLogic is currently trading at a Forward P/E ratio of 40.38. This represents a premium compared to its industry's average Forward P/E of 25.28.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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