QuickLogic (QUIK), Silicon Technology Tie Up on Advance Edge AI
QuickLogic's QUIK subsidiary, SensiML Corporation, has collaborated with the Japanese electronics distributor, Silicon Technology, to facilitate the implementation of Edge artificial intelligence (AI) suite in the Internet of Things (IoT) products of Japanese Original Equipment Manufacturers (OEMs).
Edge AI solutions are technologies and processes based on AI that are executed locally on devices rather than relying on a centralized cloud-based system. The primary objective of this entire setup is to develop efficient, energy-conserving and smart IoT devices.
The software will be used to produce device-ready codes that seamlessly integrate with target devices, including sensors and microcontrollers ranging from 8-bit to 32-bit. OEMs producing Industrial Automation, Smart Home and Wearable Devices are likely to leverage these technologies significantly.
QuickLogic Corporation Price and Consensus
QuickLogic Corporation price-consensus-chart | QuickLogic Corporation Quote
The SensiML software will enable these OEMs to incorporate IoT functionalities, such as Voice Keyword Identification, Gesture Recognition, Acoustic Event Detection, Predictive Maintenance, Motion Recognition and Anomaly Detection in their products.
QUIK's SensiML is making strides in the field of IoT. In September 2023, it introduced support within its software platform, named SensiML Analytics Studio, for a hardware component called ESP32 by Espressif. The objective was to make it easier for developers working with Espressif's hardware to implement machine learning applications on IoT devices.
In the same month, the company secured new contracts for QuickLogic's other products, such as embedded Field-Programmable Gate Array (eFPGA) Intellectual Property (IP). QUIK secured a contract with an undisclosed company that involves the development of eFPGA IP tailored for the GlobalFoundries 22FDX platform.
QuickLogic is benefiting from the increasing adoption of its sensor processing solutions and eFPGA IP Licensing products. The company’s eFPGA IP-based products, which include the rad-hard program for the U.S. government, the continued shipments of smart connectivity, display products and SensiML AI software platform, are likely to drive its top-line performance.
Zacks Rank and Other Stocks to Consider
QuickLogic carries a Zacks Rank #2 (Buy) at present. Shares of the company have rallied 68.7% year to date.
Some other top-ranked stocks from the broader technology sector are NetEase NTES, NVIDIA NVDA and Splunk SPLK. Currently, NetEase, NVIDIA and Splunk sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NTES' third-quarter fiscal 2023 earnings has been revised upward by 10 cents to $1.57 per share in the past 30 days. For fiscal 2023, earnings estimates have increased by 35 cents to $6.54 per share in the past 60 days.
NetEase’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, the average surprise being 24.54%. Shares of NTES have surged 38.4% year to date.
The Zacks Consensus Estimate for NVIDIA's third-quarter fiscal 2024 earnings has been revised upward by 8 cents to $3.32 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 21 cents to $10.67 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, the average surprise being 9.8%. Shares of NVDA have soared 201.5% year to date.
The Zacks Consensus Estimate for SPLK's third-quarter fiscal 2024 earnings has been revised upward by 34 cents to $1.73 per share in the past 60 days. For fiscal 2024, earnings estimates have increased by a penny to $3.78 per share in the past seven days.
Splunk’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 155%. Shares of SPLK have rallied 70.4% year to date.
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