QuickLogic (QUIK) Stock Moves 2.23%: What You Should Know
In the latest close session, QuickLogic (QUIK) was up +2.23% at $10.98. Meanwhile, the Dow experienced a drop of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.45%.
Shares of the maker of chips for mobile and portable electronics manufacturers witnessed a loss of 4.7% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.18%, and the S&P 500's gain of 1.27%.
The investment community will be closely monitoring the performance of QuickLogic in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.05, showcasing a 73.68% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.5 million, indicating a 170.94% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.06 per share and a revenue of $24 million, demonstrating changes of +88.68% and +74.24%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QuickLogic is currently a Zacks Rank #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 20% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow QUIK in the coming trading sessions, be sure to utilize Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).
