CEVA (CEVA) Posts Quarterly Results
CEVA (NASDAQ:CEVA) posted its quarterly earnings results on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.10, Analyst Ratings.Net reports. The company had revenue of $9.20 million for the quarter, compared to the consensus estimate of $10.54 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 28.1% on a year-over-year basis.
Shares of CEVA (NASDAQ:CEVA) traded down 0.91% during mid-day trading on Thursday, hitting $14.16. The stock had a trading volume of 84,688 shares. CEVA has a 52-week low of $13.49 and a 52-week high of $18.93. The stock has a 50-day moving average of $14.91 and a 200-day moving average of $16.21. The company has a market cap of $297.1 million and a P/E ratio of 46.25.
A number of analysts have recently weighed in on CEVA shares. Analysts at Topeka Capital Markets cut their price target on shares of CEVA from $19.00 to $16.00 in a research note on Thursday. They now have a “buy” rating on the stock. Analysts at Chardan Capital downgraded shares of CEVA from a “neutral” rating to a “sell” rating in a research note on Thursday, June 12th. They now have a $13.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $18.40.
CEVA, Inc (NASDAQ:CEVA) is a licensor of silicon intellectual property (SIP) primarily for the handsets, mobile broadband, portable and consumer electronics markets.
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