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For the first quarter, the Zacks Consensus Estimate for revenues is currently pegged at $6.2 million, which suggests growth of 50.1% year over year.
The consensus mark for earnings stands at 6 cents per share, which remained unchanged in the past 60 days. This implies a strong improvement 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 and missed twice, the average surprise being -111.3%.
Let’s see how things are shaping up for this announcement.
QuickLogic’s first-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, the SensiML AI software platform and display products, are expected to be a key driver in the to-be-reported quarter.
In the fourth quarter of 2023, QUIK’s New products revenues (accounting for 91% of total quarterly revenues) soared 12% year over year to $6.8 million. The increase was primarily driven by higher eFPGA IP license and professional services revenues due to the start of the next phase of the large eFPGA contract and higher smart connectivity and sensor product revenues. The trend is likely to have continued in the to-be-reported quarter.
Additionally, a healthy line-up of deals is likely to have positively impacted the company’s first-quarter performance. In early March 2024, QuickLogic announced that its eFPGA IP has been chosen by an unnamed multinational company for the TSMC N12e, 12nm process. The company's eFPGA product was chosen for its capability to handle AI data acceleration algorithms with improved power efficiency.
In late February 2024, QuickLogic revealed that it grabbed a seven-figure contract from a top-tier Defense Industrial Base company for its eFPGA IP targeting the GlobalFoundries' 12LP, 12nm low-power process. The continuous flow of contracts is likely to have aided QuickLogic’s top and bottom-line performances.
The company’s first-quarter performance is likely to have benefited from the 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.
Though QUIK currently carries a Zacks Rank of 3, it has an Earnings ESP of 0.00%. 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, NVIDIA (NVDA - Free Report) , Agilent Technologies (A - Free Report) and Zscaler (ZS - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
NVIDIA carries a Zacks Rank #2 and has an Earnings ESP of +2.50%. The company is scheduled to report first-quarter fiscal 2025 results on May 22. Its earnings beat the Zacks Consensus Estimate in the preceding four quarters, with the average surprise being 20.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA’s first-quarter earnings stands at $5.49 per share, which indicates a year-over-year improvement of 403.7%. It is estimated to report revenues of $24.17 billion, which suggests an increase of approximately 236.1% from the year-ago quarter.
Agilent Technologies is slated to report second-quarter fiscal 2024 results on May 29. The company has a Zacks Rank #3 and an Earnings ESP of +0.72% at present. Agilent Technologies’ earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 3.5%.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.19 per share, which suggests a decrease of 6.3% from the year-ago quarter’s earnings of $1.27. Agilent Technologies’ quarterly revenues are estimated to decline 8% to $1.58 billion from $1.72 billion in the year-ago quarter.
Zscaler carries a Zacks Rank #2 and has an Earnings ESP of +0.39%. The company is expected to report third-quarter fiscal 2024 results on Jun 6. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 28.2%.
The Zacks Consensus Estimate for Zscaler’s second-quarter earnings is pegged at 65 cents per share, which indicates a year-over-year increase of 35.4%. The consensus mark for revenues stands at $535.6 million, which calls for a year-over-year rise of 27.9%.
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What's in Store for QuickLogic (QUIK) This Earnings Season?
QuickLogic (QUIK - Free Report) is slated to release first-quarter 2024 results on May 13.
For the first quarter, the Zacks Consensus Estimate for revenues is currently pegged at $6.2 million, which suggests growth of 50.1% year over year.
The consensus mark for earnings stands at 6 cents per share, which remained unchanged in the past 60 days. This implies a strong improvement 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 and missed twice, the average surprise being -111.3%.
Let’s see how things are shaping up for this announcement.
QuickLogic Corporation Price and EPS Surprise
QuickLogic Corporation price-eps-surprise | QuickLogic Corporation Quote
Factors to Consider
QuickLogic’s first-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, the SensiML AI software platform and display products, are expected to be a key driver in the to-be-reported quarter.
In the fourth quarter of 2023, QUIK’s New products revenues (accounting for 91% of total quarterly revenues) soared 12% year over year to $6.8 million. The increase was primarily driven by higher eFPGA IP license and professional services revenues due to the start of the next phase of the large eFPGA contract and higher smart connectivity and sensor product revenues. The trend is likely to have continued in the to-be-reported quarter.
Additionally, a healthy line-up of deals is likely to have positively impacted the company’s first-quarter performance. In early March 2024, QuickLogic announced that its eFPGA IP has been chosen by an unnamed multinational company for the TSMC N12e, 12nm process. The company's eFPGA product was chosen for its capability to handle AI data acceleration algorithms with improved power efficiency.
In late February 2024, QuickLogic revealed that it grabbed a seven-figure contract from a top-tier Defense Industrial Base company for its eFPGA IP targeting the GlobalFoundries' 12LP, 12nm low-power process. The continuous flow of contracts is likely to have aided QuickLogic’s top and bottom-line performances.
The company’s first-quarter performance is likely to have benefited from the 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.
Though QUIK currently carries a Zacks Rank of 3, it has an Earnings ESP of 0.00%. 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, NVIDIA (NVDA - Free Report) , Agilent Technologies (A - Free Report) and Zscaler (ZS - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
NVIDIA carries a Zacks Rank #2 and has an Earnings ESP of +2.50%. The company is scheduled to report first-quarter fiscal 2025 results on May 22. Its earnings beat the Zacks Consensus Estimate in the preceding four quarters, with the average surprise being 20.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA’s first-quarter earnings stands at $5.49 per share, which indicates a year-over-year improvement of 403.7%. It is estimated to report revenues of $24.17 billion, which suggests an increase of approximately 236.1% from the year-ago quarter.
Agilent Technologies is slated to report second-quarter fiscal 2024 results on May 29. The company has a Zacks Rank #3 and an Earnings ESP of +0.72% at present. Agilent Technologies’ earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 3.5%.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.19 per share, which suggests a decrease of 6.3% from the year-ago quarter’s earnings of $1.27. Agilent Technologies’ quarterly revenues are estimated to decline 8% to $1.58 billion from $1.72 billion in the year-ago quarter.
Zscaler carries a Zacks Rank #2 and has an Earnings ESP of +0.39%. The company is expected to report third-quarter fiscal 2024 results on Jun 6. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 28.2%.
The Zacks Consensus Estimate for Zscaler’s second-quarter earnings is pegged at 65 cents per share, which indicates a year-over-year increase of 35.4%. The consensus mark for revenues stands at $535.6 million, which calls for a year-over-year rise of 27.9%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.