Is QuickLogic (QUIK) Stock Outpacing Its Computer and Technology Peers This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is QuickLogic (QUIK) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
QuickLogic is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. QuickLogic is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for QUIK's full-year earnings has moved 41.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, QUIK has returned 16.2% so far this year. In comparison, Computer and Technology companies have returned an average of 8.7%. This shows that QuickLogic is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Inseego (INSG). The stock is up 31.5% year-to-date.
The consensus estimate for Inseego's current year EPS has increased 17% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, QuickLogic belongs to the Electronics - Semiconductors industry, which includes 41 individual stocks and currently sits at #194 in the Zacks Industry Rank. On average, this group has gained an average of 21.5% so far this year, meaning that QUIK is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Inseego falls under the Internet - Software industry. Currently, this industry has 145 stocks and is ranked #46. Since the beginning of the year, the industry has moved +16.5%.
QuickLogic and Inseego could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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
Inseego (INSG) : Free Stock Analysis Report
