QuickLogic (QUIK) Advances While Market Declines: Some Information for Investors

QuickLogic (QUIK) ended the recent trading session at $9.26, demonstrating a +2.09% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 1.36% for the day. Elsewhere, the Dow lost 1.64%, while the tech-heavy Nasdaq lost 1.46%.

Shares of the maker of chips for mobile and portable electronics manufacturers witnessed a gain of 21.75% over the previous month, beating the performance of the Computer and Technology sector with its loss of 0.24%, and the S&P 500's loss of 1.76%.

The upcoming earnings release of QuickLogic will be of great interest to investors. The company's upcoming EPS is projected at -$0.06, signifying a 14.29% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.5 million, showing a 27.31% escalation compared to the year-ago quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0 per share and a revenue of $24.7 million, representing changes of +100% and +79.32%, respectively, from the prior year.

Any recent changes to analyst estimates for QuickLogic should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.11% lower within the past month. Right now, QuickLogic possesses a Zacks Rank of #4 (Sell).

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 35% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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QuickLogic Corporation (QUIK): Free Stock Analysis Report

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