Stock Performance Overview
Despite a brief stumble, QuickLogic (QUIK) closed at $15.70 in the latest trading session, revealing a -1.75% move compared to the day before. This minor setback contrasts with the S&P 500’s daily gain of 0.86%. In the same timeframe, the Dow saw a 1.22% increase, while the tech-heavy Nasdaq rose by 0.51%.
Recent Stock Movement
Before the recent dip, QuickLogic’s shares, specializing in chips for mobile and portable electronics, had surged by 25.73% in the past month. This growth outpaced the Computer and Technology sector’s 3.76% gain and the S&P 500’s increase of 2.84%.
Insights into Earnings
Investors and analysts are anticipatively awaiting QuickLogic’s upcoming earnings report. Forecasts predict an EPS of $0.06, reflecting a 250% surge from the same quarter the previous year. Revenue estimates stand at $6.2 million, indicating a hefty 50.12% leap year-over-year.
Analyst Estimates and Zacks Rank
Changes in analyst predictions reflect prevailing business trends. Positive revisions signal an optimistic outlook on the company. Recent Zacks Rank data show a 41.67% surge in the Consensus EPS estimate over the past month. Notably, QuickLogic currently holds a Zacks Rank of #1 (Strong Buy).
Valuation Perspective
QuickLogic’s current Forward P/E ratio of 44.39 warrants investor attention. Comparatively, the industry’s average Forward P/E sits at 32.5, portraying QuickLogic as trading at a premium.
Industry Standpoint
Placed within the Electronics – Semiconductors industry of the Computer and Technology sector, QuickLogic faces challenges. The industry’s Zacks Industry Rank of 188 positions it in the bottom 26% of over 250 industries.
Zacks Insights
Zacks suggests keeping a close watch on QuickLogic’s metrics and related industry trends. Timely data analysis can aid investors in making informed decisions amidst the market’s fluctuations.
Expert Recommendations
Zacks offers a curated list of 7 top-notch stocks likely to yield early price surges. Dating back to 1988, this list has consistently outperformed the market, boasting an average annual return of +24.2%.
“The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.”
