MIPS Technologies (Nasdaq: MIPS) is expected to report Q2 earnings around Nov. 2. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict MIPS Technologies's revenues will wither -4.0% and EPS will shrink to a loss.

The average estimate for revenue is $14.7 million. On the bottom line, the average EPS estimate is -$0.03.

Revenue details
Last quarter, MIPS Technologies recorded revenue of $13.9 million. GAAP reported sales were 19% lower than the prior-year quarter's $17.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at -$0.01. GAAP EPS were -$0.08 for Q1 against $0.01 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 97.4%, 110 basis points worse than the prior-year quarter. Operating margin was -33.8%, 3,930 basis points worse than the prior-year quarter. Net margin was -31.0%, 3,400 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $58.5 million. The average EPS estimate is -$0.10.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 283 members out of 317 rating the stock outperform, and 34 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 50 give MIPS Technologies a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MIPS Technologies is outperform, with an average price target of $8.00.

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