In the latest trading session, QuickLogic (QUIK) closed at $15.70, marking a -1.75% move from the previous day. This change trailed the S&P 500’s daily gain of 0.86%. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.51%.
Before today’s trade, shares of the maker of chips for mobile phone and wearable electronics makers had gained 25.73% over the past month. This exceeded the gain of the Computer and Technology sector of 3.76% and the gain of S&P 500 of 2.84% at that time.
Analysts and investors alike will be watching QuickLogic’s performance in its upcoming earnings release. The company is expected to report EPS of $0.06, showing a 250% upward movement from the corresponding quarter of the previous year. Meanwhile, the latest consensus estimate predicts that the revenue will be $6.2 million, indicating an increase of 50.12% compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates forecast earnings of $0.36 per share and revenue of $27.6 million, representing changes of +111.76% and +30.2%, respectively, from last year.
Investors should also note some recent adjustments to analyst estimates for QuickLogic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, optimistic changes in ratings indicate a favorable outlook of analysts about the business health and profitability of the company.
Research indicates that these rating revisions are directly correlated with near-term stock price momentum. To take advantage of this, we developed the Zacks Rank, a proprietary model that takes these rating changes into account and provides a reasonable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of externally verified outperformance, with #1 ranked stocks delivering an average annual return of +25% since 1988. More than last month, there was a 41.67% increase in the Zacks Consensus EPS estimate. Currently, QuickLogic boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that QuickLogic has a Forward P/E ratio of 44.39 right now. For comparison, its industry average Forward P/E of 32.5 means QuickLogic trades at a premium to the group.
The Electronics – Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 188, which places it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to use Zacks.com to stay up-to-date with all of these stock-changing metrics, among others, in the upcoming trading sessions.
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QuickLogic Corporation (QUIK): Free Analysis Report
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