Why QuickLogic (QUIK) Dipped More Than Broader Market Today

QuickLogic (QUIK) ended the recent trading session at $9.62, demonstrating a -3.51% change from the preceding day's closing price. This change lagged the S&P 500's 1.74% loss on the day. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 2.38%.

The maker of chips for mobile and portable electronics manufacturers's shares have seen an increase of 21.29% over the last month, surpassing the Computer and Technology sector's loss of 5.77% and the S&P 500's loss of 4.99%.

Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 14.29% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.5 million, indicating a 27.31% increase compared to the same quarter of the previous year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0 per share and revenue of $24.7 million. These totals would mark changes of +100% and +79.32%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for QuickLogic. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 11.11% decrease. As of now, QuickLogic holds a Zacks Rank of #4 (Sell).

The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 37% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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