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QuickLogic (QUIK) Stock Sinks As Market Gains: Here's Why
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In the latest close session, QuickLogic (QUIK - Free Report) was down 4.17% at $6.44. This move lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.18%.
Prior to today's trading, shares of the maker of chips for mobile and portable electronics manufacturers had gained 8.91% outpaced the Computer and Technology sector's gain of 8.22% and the S&P 500's gain of 5.71%.
Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company is expected to report EPS of -$0.07, down 40% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4 million, reflecting a 3.15% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.02 per share and a revenue of $22.75 million, indicating changes of -150% and +13.12%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, QuickLogic holds a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 26% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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QuickLogic (QUIK) Stock Sinks As Market Gains: Here's Why
In the latest close session, QuickLogic (QUIK - Free Report) was down 4.17% at $6.44. This move lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.18%.
Prior to today's trading, shares of the maker of chips for mobile and portable electronics manufacturers had gained 8.91% outpaced the Computer and Technology sector's gain of 8.22% and the S&P 500's gain of 5.71%.
Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company is expected to report EPS of -$0.07, down 40% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4 million, reflecting a 3.15% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.02 per share and a revenue of $22.75 million, indicating changes of -150% and +13.12%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, QuickLogic holds a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 26% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.