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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 8.05% at $13.03. The stock trailed the S&P 500, which registered a daily loss of 0.51%. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq decreased by 1.47%.
Shares of the maker of chips for mobile and portable electronics manufacturers have depreciated by 32.07% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.99%, and the S&P 500's gain of 0.53%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. The company is expected to report EPS of -$0.04, up 55.56% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6 million, up 62.6% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.02 per share and a revenue of $25.5 million, representing changes of +103.77% and +85.13%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, QuickLogic is carrying a Zacks Rank of #3 (Hold).
Investors should also note QuickLogic's current valuation metrics, including its Forward P/E ratio of 708.5. This expresses a premium compared to the average Forward P/E of 48.19 of its industry.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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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 8.05% at $13.03. The stock trailed the S&P 500, which registered a daily loss of 0.51%. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq decreased by 1.47%.
Shares of the maker of chips for mobile and portable electronics manufacturers have depreciated by 32.07% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.99%, and the S&P 500's gain of 0.53%.
Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. The company is expected to report EPS of -$0.04, up 55.56% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6 million, up 62.6% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.02 per share and a revenue of $25.5 million, representing changes of +103.77% and +85.13%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for QuickLogic. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, QuickLogic is carrying a Zacks Rank of #3 (Hold).
Investors should also note QuickLogic's current valuation metrics, including its Forward P/E ratio of 708.5. This expresses a premium compared to the average Forward P/E of 48.19 of its industry.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.