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QuickLogic (QUIK) Rises As Market Takes a Dip: Key Facts

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QuickLogic (QUIK - Free Report) closed the most recent trading day at $10.32, moving +1.57% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.16%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.18%.

Heading into today, shares of the maker of chips for mobile and portable electronics manufacturers had lost 13.46% over the past month, lagging the Computer and Technology sector's gain of 6.77% and the S&P 500's gain of 3.15% in that time.

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 $0.01, showcasing a 108.33% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.5 million, indicating a 54.11% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.50 per share and revenue of $27.5 million, which would represent changes of +194.12% and +29.73%, respectively, from the prior 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QuickLogic is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, QuickLogic is presently being traded at a Forward P/E ratio of 20.32. This denotes a discount relative to the industry's average Forward P/E of 40.07.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.

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.

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