QuickLogic (QUIK) Moves 5.9% Higher: Will This Strength Last?

QuickLogic QUIK shares ended the last trading session 5.9% higher at $6.32. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.7% gain over the past four weeks.QuickLogic is benefiting from its unique position as the first available source for eFPGA Hard IP for Intel 18A technology, enabling integration and driving growth in defense and commercial markets.This maker of chips for mobile and portable electronics manufacturers is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -40%. Revenues are expected to be $4 million, down 3.2% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For QuickLogic, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on QUIK going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>QuickLogic is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, GCT Semiconductor Holding, Inc. GCTS, finished the last trading session 4.1% lower at $1.42. GCTS has returned 39.6% over the past month.For GCT Semiconductor Holding, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. This represents a change of -600% from what the company reported a year ago. GCT Semiconductor Holding, Inc. currently has a Zacks Rank of #4 (Sell).Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QuickLogic Corporation (QUIK): Free Stock Analysis Report GCT Semiconductor Holding, Inc. (GCTS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks