QuickLogic (QUIK) Stock Dips While Market Gains: Key Facts

QuickLogic (QUIK) closed the most recent trading day at $5.97, moving -3.24% from the previous trading session. This change lagged the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw an upswing of 0.94%, while the tech-heavy Nasdaq appreciated by 0.97%. Shares of the maker of chips for mobile and portable electronics manufacturers witnessed a gain of 17.75% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.5%, and the S&P 500's gain of 5.12%.Analysts and investors alike will be keeping a close eye on the performance of QuickLogic in its upcoming earnings disclosure. On that day, QuickLogic is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 40%. In the meantime, our current consensus estimate forecasts the revenue to be $4 million, indicating a 3.15% decline compared to the corresponding quarter of the prior year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.02 per share and a revenue of $22.75 million, representing changes of -150% and +13.12%, respectively, from the prior year. It is also important to note the recent changes to analyst estimates for QuickLogic. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 50% lower. QuickLogic is currently sporting a Zacks Rank of #3 (Hold). The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 38% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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. Don’t Miss Out on These Stocks Before you make your next investing move, we have a free report that highlights the %%CTA_TEXT%% to buy.Our experts at Zacks Investment Research hand-selected these stocks for their eye-opening growth projections.Since 1988, our stock picks have more than doubled the S&P 500 with an average gain of +23.89% per year using the Zacks Rank stock-rating system.Register now to see the %%CTA_TEXT%%.7 best stocksWant 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks