QuickLogic (QUIK) closed the most recent trading day at $12.87, moving +1.66% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.02% for the day. On the other hand, the Dow registered a gain of 0.51%, and the technology-centric Nasdaq decreased by 0.18%.
Prior to today's trading, shares of the maker of chips for mobile and portable electronics manufacturers had lost 31.68% lagged the Computer and Technology sector's loss of 4.21% and the S&P 500's gain of 0.77%.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company is forecasted to report an EPS of -$0.04, showcasing a 55.56% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $6 million, up 62.6% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.02 per share and revenue of $25.5 million, indicating changes of +103.77% and +85.13%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for QuickLogic. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, QuickLogic boasts a Zacks Rank of #3 (Hold).
In the context of valuation, QuickLogic is at present trading with a Forward P/E ratio of 633. This denotes a premium relative to the industry average Forward P/E of 43.05.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 62, finds itself in the top 26% echelons of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
