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For fourth-quarter revenues, the Zacks Consensus Estimate is currently pegged at $7.4 million, suggesting growth of 81.4% year over year.
The consensus mark for earnings is pegged at 14 cents per share, which remained unchanged in the past 90 days. This suggests growth of 450% from the year-ago quarter's loss of 4 cents per share.
QUIK’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average negative surprise being 110.12%.
QuickLogic’s fourth-quarter results are expected to benefit from the rising adoption of QUIK’s embedded FPGA (eFPGA) Intellectual Property (IP) Licensing products and sensor processing solutions. The company’s eFPGA IP-based products, which include the rad-hard program for the U.S. government, continued shipments of smart connectivity, SensiML AI software platform and display products, are expected to have been a key driver in the to-be-reported quarter.
In third-quarter 2023, QUIK’s New products revenues accounted for 91% of total quarterly revenues, while the Mature products segment represented the remaining 9%. QuickLogic’s new products include revenues from professional services, eFPGA IP, QuickAI and SensiML AI software as a service.
Additionally, a healthy line-up of deals is likely to have positively impacted the company. In October 2023, QuickLogic partnered with Silicon Technology to promote SensiML's edge AI solutions. This was intended to ensure that the Japanese original equipment manufacturers could integrate SensiML's edge AI solutions with sensor-driven intelligence in their products while leveraging Silicon Technology’s distribution chain.
In September 2023, QUIK signed an agreement with an unnamed company for eFPGA IP targeting the GlobalFoundries 22FDX platform. In January 2023, the company collaborated with Andes Technology Corporation for eFPGA joint promotion. The partnership aimed to help Andes' customers combine QuickLogic eFPGA technology with RISC-V processor-based subsystems, providing customers with various flexibility benefits after manufacturing. QuickLogic had similar deals in 2022, which included agreements with Yu-Hsin Layout Technology and CHIP-gogo based on QuickLogic eFPGA technology.
The company’s fourth-quarter performance is likely to have benefited from rising demand for wearable products in the business-to-business market, mainly driven by higher demand from hospitals and fitness focused industries, which need to track body activities and biometric information.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for QuickLogic this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
QUIK has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, SEMrush (SEMR - Free Report) , SentinelOne (S - Free Report) and The Gap have the right combination of elements to post an earnings beat in their upcoming releases.
SEMrush has an Earnings ESP of +23.08% and carries a Zacks Rank #2 at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Mar 4. Its earnings surpassed the Zacks Consensus Estimate twice in the trailing four quarters while matching the same on two occasions, the average negative surprise being 112.50%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SEMR’s fourth-quarter earnings has remained unchanged at 3 cents per share for the past 90 days. The consensus mark for revenues is pegged at $83.19 million, suggesting a year-over-year increase of 20.93.
SentinelOne has an Earnings ESP of +16.30% and carries a Zacks Rank #3 at present. The company is scheduled to report fourth-quarter fiscal 2024 results on Mar 13. Its earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 33.54%.
The Zacks Consensus Estimate is pegged at a loss of 4 cents per share, suggesting growth of 69.23% from the prior-year quarter. The consensus mark for revenues is pegged at $169.5 million, suggesting a year-over-year increase of 34.42%.
The Gap has an Earnings ESP of +24.44% and sports a Zacks Rank #1 at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Mar 7. Its earnings surpassed the Zacks Consensus Estimate thrice in the trailing four quarters, the average surprise being 137.89%.
The Zacks Consensus Estimate for GPS’ fourth-quarter earnings is pegged at 19 cents per share, indicating a surge of 125.33% from the prior-year quarter. The consensus mark for revenues is pegged at $4.21 billion, suggesting a year-over-year decrease of 0.68%.
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QuickLogic (QUIK) to Report Q4 Earnings: What's in the Cards?
QuickLogic (QUIK - Free Report) is slated to release fourth-quarter 2023 results on Feb 27.
For fourth-quarter revenues, the Zacks Consensus Estimate is currently pegged at $7.4 million, suggesting growth of 81.4% year over year.
The consensus mark for earnings is pegged at 14 cents per share, which remained unchanged in the past 90 days. This suggests growth of 450% from the year-ago quarter's loss of 4 cents per share.
QUIK’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average negative surprise being 110.12%.
QuickLogic Corporation Price and EPS Surprise
QuickLogic Corporation price-eps-surprise | QuickLogic Corporation Quote
Factors to Note
QuickLogic’s fourth-quarter results are expected to benefit from the rising adoption of QUIK’s embedded FPGA (eFPGA) Intellectual Property (IP) Licensing products and sensor processing solutions. The company’s eFPGA IP-based products, which include the rad-hard program for the U.S. government, continued shipments of smart connectivity, SensiML AI software platform and display products, are expected to have been a key driver in the to-be-reported quarter.
In third-quarter 2023, QUIK’s New products revenues accounted for 91% of total quarterly revenues, while the Mature products segment represented the remaining 9%. QuickLogic’s new products include revenues from professional services, eFPGA IP, QuickAI and SensiML AI software as a service.
Additionally, a healthy line-up of deals is likely to have positively impacted the company. In October 2023, QuickLogic partnered with Silicon Technology to promote SensiML's edge AI solutions. This was intended to ensure that the Japanese original equipment manufacturers could integrate SensiML's edge AI solutions with sensor-driven intelligence in their products while leveraging Silicon Technology’s distribution chain.
In September 2023, QUIK signed an agreement with an unnamed company for eFPGA IP targeting the GlobalFoundries 22FDX platform. In January 2023, the company collaborated with Andes Technology Corporation for eFPGA joint promotion. The partnership aimed to help Andes' customers combine QuickLogic eFPGA technology with RISC-V processor-based subsystems, providing customers with various flexibility benefits after manufacturing. QuickLogic had similar deals in 2022, which included agreements with Yu-Hsin Layout Technology and CHIP-gogo based on QuickLogic eFPGA technology.
The company’s fourth-quarter performance is likely to have benefited from rising demand for wearable products in the business-to-business market, mainly driven by higher demand from hospitals and fitness focused industries, which need to track body activities and biometric information.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for QuickLogic this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
QUIK has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, SEMrush (SEMR - Free Report) , SentinelOne (S - Free Report) and The Gap have the right combination of elements to post an earnings beat in their upcoming releases.
SEMrush has an Earnings ESP of +23.08% and carries a Zacks Rank #2 at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Mar 4. Its earnings surpassed the Zacks Consensus Estimate twice in the trailing four quarters while matching the same on two occasions, the average negative surprise being 112.50%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SEMR’s fourth-quarter earnings has remained unchanged at 3 cents per share for the past 90 days. The consensus mark for revenues is pegged at $83.19 million, suggesting a year-over-year increase of 20.93.
SentinelOne has an Earnings ESP of +16.30% and carries a Zacks Rank #3 at present. The company is scheduled to report fourth-quarter fiscal 2024 results on Mar 13. Its earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 33.54%.
The Zacks Consensus Estimate is pegged at a loss of 4 cents per share, suggesting growth of 69.23% from the prior-year quarter. The consensus mark for revenues is pegged at $169.5 million, suggesting a year-over-year increase of 34.42%.
The Gap has an Earnings ESP of +24.44% and sports a Zacks Rank #1 at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Mar 7. Its earnings surpassed the Zacks Consensus Estimate thrice in the trailing four quarters, the average surprise being 137.89%.
The Zacks Consensus Estimate for GPS’ fourth-quarter earnings is pegged at 19 cents per share, indicating a surge of 125.33% from the prior-year quarter. The consensus mark for revenues is pegged at $4.21 billion, suggesting a year-over-year decrease of 0.68%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.