QuickLogic Reports Positive Performance Amid Market Gains
Stock Movement Outpaces Major Indices
The most recent trading session ended with QuickLogic (QUIK) standing at $8.33, reflecting a +0.85% shift from the previous trading day’s closing. This change outpaced the S&P 500’s 0.4% gain. Meanwhile, the Dow experienced a rise of 0.09%, while the technology-focused Nasdaq saw an increase of 0.63%.
Monthly Gains Show Strong Outperformance
Shares of QuickLogic, which manufactures chips for mobile and portable electronics, gained 11.77% over the previous month, outperforming the Computer and Technology sector’s 4.88% gain and the S&P 500’s rise of 3.76%.
Upcoming Earnings and Projections
Attention now turns to QuickLogic’s upcoming earnings report, with earnings per share (EPS) projected at -$0.05, marking a 138.46% decrease compared to the same quarter last year. Our consensus estimates forecast revenue at $4.2 million, indicating a 37.03% decline from the same period last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.35 per share and revenue of $24.4 million. These figures reflect increases of +105.88% and +15.11%, respectively, from the prior year.
Analyst Estimates Signal Market Sentiment
Investors should be aware of any recent changes to analyst estimates for QuickLogic, as these adjustments often signal the latest business trends. Positive revisions can indicate optimism regarding the company’s outlook. Historical data shows that these changes in estimates correlate closely with stock performance, which is an insight leveraged by our Zacks Rank system.
The Zacks Rank ranges from #1 (Strong Buy) to #5 (Strong Sell). The system has a proven, auditable track record, with #1 stocks returning an average of +25% annually since 1988. Currently, QuickLogic holds a Zacks Rank of #3 (Hold) as our EPS projections have remained stable over the last month.
Valuation Insights for Investors
Investors should consider the valuation aspects as well, with QuickLogic currently having a Forward P/E ratio of 23.6, which presents a discount in comparison to its industry’s Forward P/E of 35.11.
Part of the Electronics – Semiconductors industry, QuickLogic is categorized under the Computer and Technology sector. This industry currently holds a Zacks Industry Rank of 103, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank reflects the strength of industry groups through the average Zacks Rank of individual stocks. Research shows that higher-rated industries tend to outperform lower-rated ones by a factor of 2 to 1.
Stay Updated on Stock Metrics
Keep an eye on Zacks.com for continual updates on these stock-influencing metrics and more in the upcoming trading sessions.
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QuickLogic Corporation (QUIK) : Free Stock Analysis Report
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
