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Here's Why QuickLogic (QUIK) Fell More Than Broader Market
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In the latest close session, QuickLogic (QUIK - Free Report) was down 1.81% at $5.98. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw a decrease of 0.34%.
The stock of maker of chips for mobile and portable electronics manufacturers has risen by 13.2% in the past month, leading the Computer and Technology sector's gain of 8.98% and the S&P 500's gain of 3.08%.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company's upcoming EPS is projected at -$0.21, signifying a 250.00% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.1 million, down 50.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.38 per share and a revenue of $15.7 million, representing changes of -1050% and -21.94%, respectively, from the prior year.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, QuickLogic is carrying a Zacks Rank of #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 24% 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.
To follow QUIK in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why QuickLogic (QUIK) Fell More Than Broader Market
In the latest close session, QuickLogic (QUIK - Free Report) was down 1.81% at $5.98. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw a decrease of 0.34%.
The stock of maker of chips for mobile and portable electronics manufacturers has risen by 13.2% in the past month, leading the Computer and Technology sector's gain of 8.98% and the S&P 500's gain of 3.08%.
The investment community will be paying close attention to the earnings performance of QuickLogic in its upcoming release. The company's upcoming EPS is projected at -$0.21, signifying a 250.00% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.1 million, down 50.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.38 per share and a revenue of $15.7 million, representing changes of -1050% and -21.94%, respectively, from the prior year.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, QuickLogic is carrying a Zacks Rank of #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 24% 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.
To follow QUIK in the coming trading sessions, be sure to utilize Zacks.com.