In the latest market close, QuickLogic (QUIK) reached $8.18, with a -0.73% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.92%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, added 2.03%.

The the stock of maker of chips for mobile and portable electronics manufacturers has fallen by 29.63% in the past month, lagging the Computer and Technology sector's loss of 2.99% and the S&P 500's gain of 0.81%.

Investors will be eagerly watching for the performance of QuickLogic in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.03, reflecting an 83.33% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $6.1 million, indicating a 18.45% decline compared to the corresponding quarter of the prior year.

Investors might also notice recent changes to analyst estimates for QuickLogic. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.

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 past month, the Zacks Consensus EPS estimate has remained steady. QuickLogic is currently a Zacks Rank #3 (Hold).

In terms of valuation, QuickLogic is currently trading at a Forward P/E ratio of 39.24. This denotes a premium relative to the industry's average Forward P/E of 24.46.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.

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.

To follow QUIK in the coming trading sessions, be sure to utilize Zacks.com.

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

To read this article on Zacks.com click here.

Zacks Investment Research