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QuickLogic (QUIK) Stock Dips While Market Gains: Key Facts
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QuickLogic (QUIK - Free Report) closed the most recent trading day at $5.97, moving -3.24% from the previous trading session. This change lagged the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw an upswing of 0.94%, while the tech-heavy Nasdaq appreciated by 0.97%.
Shares of the maker of chips for mobile and portable electronics manufacturers witnessed a gain of 17.75% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.5%, and the S&P 500's gain of 5.12%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. On that day, QuickLogic is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 40%. In the meantime, our current consensus estimate forecasts the revenue to be $4 million, indicating a 3.15% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.02 per share and a revenue of $22.75 million, representing changes of -150% and +13.12%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for QuickLogic. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 50% lower. QuickLogic is currently sporting a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow QUIK in the coming trading sessions, be sure to utilize Zacks.com.
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QuickLogic (QUIK) Stock Dips While Market Gains: Key Facts
QuickLogic (QUIK - Free Report) closed the most recent trading day at $5.97, moving -3.24% from the previous trading session. This change lagged the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw an upswing of 0.94%, while the tech-heavy Nasdaq appreciated by 0.97%.
Shares of the maker of chips for mobile and portable electronics manufacturers witnessed a gain of 17.75% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.5%, and the S&P 500's gain of 5.12%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. On that day, QuickLogic is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 40%. In the meantime, our current consensus estimate forecasts the revenue to be $4 million, indicating a 3.15% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.02 per share and a revenue of $22.75 million, representing changes of -150% and +13.12%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for QuickLogic. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 50% lower. QuickLogic is currently sporting a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow QUIK in the coming trading sessions, be sure to utilize Zacks.com.