QuickLogic (QUIK) Gains But Lags Market: What You Should Know

QuickLogic (QUIK) closed at $5.09 in the latest trading session, marking a +0.59% move from the prior day. This move lagged the S&P 500's daily gain of 1.81%. Meanwhile, the Dow experienced a rise of 1.56%, and the technology-dominated Nasdaq saw an increase of 2.06%.Heading into today, shares of the maker of chips for mobile and portable electronics manufacturers had lost 10.6% over the past month, lagging the Computer and Technology sector's loss of 7.27% and the S&P 500's loss of 6.14% in that time.The upcoming earnings release of QuickLogic will be of great interest to investors. The company is expected to report EPS of -$0.08, down 172.73% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $4 million, showing a 33.44% drop compared to the year-ago quarter.For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.16 per share and a revenue of $24.37 million, signifying shifts of +300% and +21.15%, respectively, from the last year.Any recent changes to analyst estimates for QuickLogic should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, QuickLogic holds a Zacks Rank of #3 (Hold).Looking at valuation, QuickLogic is presently trading at a Forward P/E ratio of 32.65. This denotes a premium relative to the industry's average Forward P/E of 19.96.The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 47, this industry ranks in the top 19% of all industries, numbering over 250.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks