In the latest trading session, QuickLogic (QUIK) closed at $8.07, marking a -1.1% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.74%.
Shares of the maker of chips for mobile and portable electronics manufacturers have depreciated by 3.77% over the course of the past month, underperforming the Computer and Technology sector's gain of 3.99% and the S&P 500's gain of 3.16%.
Market participants will be closely following the financial results of QuickLogic in its upcoming release. The company plans to announce its earnings on November 11, 2024. In that report, analysts expect QuickLogic to post earnings of -$0.05 per share. This would mark a year-over-year decline of 138.46%. Meanwhile, our latest consensus estimate is calling for revenue of $4.2 million, down 37.03% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.35 per share and a revenue of $24.4 million, signifying shifts of +105.88% and +15.11%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, QuickLogic is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, QuickLogic is presently being traded at a Forward P/E ratio of 23.31. This denotes a discount relative to the industry's average Forward P/E of 32.06.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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