QuickLogic (QUIK) Secures Five-year Contract for Its eFPGA IP
QuickLogic QUIK announced that its embedded FPGA (eFPGA) IP has been chosen by an unnamed multinational company for the TSMC N12e, 12nm process. Per the company's press release, the eFPGA product was chosen for its capability to handle artificial intelligence (AI) data acceleration algorithms with improved power efficiency.
This product is made for ultra-low-power SoC and uses AI advantages for various commercial and industrial uses. QuickLogic is benefiting from the growing use of its eFPGA IP Licensing products.
QUIK's new products segment contributes to the revenues generated from eFPGA IP intellectual property. In 2023, revenues from the company's new products contributed 86% to the total annual revenues.
QuickLogic Corporation Price and Consensus
QuickLogic Corporation price-consensus-chart | QuickLogic Corporation Quote
Over the last year, a robust stream of deals from the eFPGA division had a positive influence on the company. In September 2023, QUIK entered into an eFPGA IP agreement with an undisclosed company for eFPGA IP targeting the GlobalFoundries 22FDX platform.
Moreover, in January 2023, the company also partnered with Andes Technology Corporation to jointly promote eFPGA solution. The collaboration focused on assisting the latter's customers in integrating QuickLogic eFPGA technology with RISC-V processor-based subsystems. QUIK had similar agreements in 2022, including deals with Yu-Hsin Layout Technology and CHIP-gogo, which were centered around QuickLogic eFPGA technology.
Zacks Rank and Other Stocks to Consider
Currently, QuickLogic sports a Zacks Rank #1 (Strong Buy). Shares of QUIK have skyrocketed 187.5% in the past year.
Some other top-ranked stocks from the broader technology sector are BlackLine BL, Adobe ADBE and Dell Technologies DELL, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BlackLine’s first-quarter 2024 earnings has remained unchanged at 47 cents per share for the past 90 days. Shares of BL have lost 4% in the past year.
The Zacks Consensus Estimate for Adobe’s first-quarter 2024 earnings has moved north 12 cents to $4.38 per share in the past 90 days. Shares of ADBE have rallied 57% in the past year.
The Zacks Consensus Estimate for DELL’s first-quarter 2024 earnings has moved down 5 cents to $1.35 in the past seven days. Shares of DELL have surged 211.7% in the past year.
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