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QuickLogic (QUIK) Stock Slides as Market Rises: Facts to Know Before You Trade
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QuickLogic (QUIK - Free Report) ended the recent trading session at $9.46, demonstrating a -0.42% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.1%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq increased by 0.08%.
Shares of the maker of chips for mobile and portable electronics manufacturers have depreciated by 2.76% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.55% and the S&P 500's gain of 1.72%.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company is slated to reveal its earnings on November 14, 2023. The company is forecasted to report an EPS of $0.14, showcasing a 300% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.5 million, up 87.86% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.05 per share and revenue of $21.3 million, indicating changes of +127.78% and +31.64%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, QuickLogic boasts a Zacks Rank of #3 (Hold).
With respect to valuation, QuickLogic is currently being traded at a Forward P/E ratio of 190. This expresses a premium compared to the average Forward P/E of 22.45 of its industry.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 186, positioning it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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QuickLogic (QUIK) Stock Slides as Market Rises: Facts to Know Before You Trade
QuickLogic (QUIK - Free Report) ended the recent trading session at $9.46, demonstrating a -0.42% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.1%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq increased by 0.08%.
Shares of the maker of chips for mobile and portable electronics manufacturers have depreciated by 2.76% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.55% and the S&P 500's gain of 1.72%.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company is slated to reveal its earnings on November 14, 2023. The company is forecasted to report an EPS of $0.14, showcasing a 300% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.5 million, up 87.86% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.05 per share and revenue of $21.3 million, indicating changes of +127.78% and +31.64%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, QuickLogic boasts a Zacks Rank of #3 (Hold).
With respect to valuation, QuickLogic is currently being traded at a Forward P/E ratio of 190. This expresses a premium compared to the average Forward P/E of 22.45 of its industry.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 186, positioning it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.