QuickLogic (QUIK) Suffers a Larger Drop Than the General Market: Key Insights

In the latest trading session, QuickLogic (QUIK) closed at $6.09, marking a -2.87% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.55%. Elsewhere, the Dow saw a downswing of 0.19%, while the tech-heavy Nasdaq depreciated by 0.95%. The maker of chips for mobile and portable electronics manufacturers's stock has climbed by 17.2% in the past month, exceeding the Computer and Technology sector's gain of 9.88% and the S&P 500's gain of 3.64%.Market participants will be closely following the financial results of QuickLogic in its upcoming release. On that day, QuickLogic is projected to report earnings of -$0.21 per share, which would represent a year-over-year decline of 250%. Alongside, our most recent consensus estimate is anticipating revenue of $2.1 million, indicating a 50.82% downward movement from the same quarter last year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.38 per share and a revenue of $15.7 million, representing changes of -1050% and -21.94%, respectively, from the prior year. Investors might also notice recent changes to analyst estimates for QuickLogic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, QuickLogic holds a Zacks Rank of #4 (Sell). The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 189, this industry ranks in the bottom 24% of all industries, numbering over 250. The Zacks Industry Rank gauges the strength of our individual 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. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.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 $971 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks