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QuickLogic (QUIK) Exceeds Market Returns: Some Facts to Consider
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The latest trading session saw QuickLogic (QUIK - Free Report) ending at $12.41, denoting a +1.64% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.96%. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 1.3%.
Prior to today's trading, shares of the maker of chips for mobile and portable electronics manufacturers had lost 10.81% over the past month. This has lagged the Computer and Technology sector's gain of 6.92% and the S&P 500's gain of 3.69% in that time.
Market participants will be closely following the financial results of QuickLogic in its upcoming release. The company plans to announce its earnings on February 27, 2024. The company is predicted to post an EPS of $0.14, indicating a 450% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.4 million, up 81.37% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for QuickLogic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QuickLogic currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that QuickLogic has a Forward P/E ratio of 33.92 right now. This denotes a premium relative to the industry's average Forward P/E of 28.78.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 217, positioning it in the bottom 14% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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QuickLogic (QUIK) Exceeds Market Returns: Some Facts to Consider
The latest trading session saw QuickLogic (QUIK - Free Report) ending at $12.41, denoting a +1.64% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.96%. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 1.3%.
Prior to today's trading, shares of the maker of chips for mobile and portable electronics manufacturers had lost 10.81% over the past month. This has lagged the Computer and Technology sector's gain of 6.92% and the S&P 500's gain of 3.69% in that time.
Market participants will be closely following the financial results of QuickLogic in its upcoming release. The company plans to announce its earnings on February 27, 2024. The company is predicted to post an EPS of $0.14, indicating a 450% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.4 million, up 81.37% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for QuickLogic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QuickLogic currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that QuickLogic has a Forward P/E ratio of 33.92 right now. This denotes a premium relative to the industry's average Forward P/E of 28.78.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 217, positioning it in the bottom 14% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.