CEVA, Inc. (CEVA) Expected to Post Quarterly Sales of $21.60 Million
Wall Street analysts expect CEVA, Inc. (NASDAQ:CEVA) to post sales of $21.60 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CEVA’s earnings, with estimates ranging from $21.50 million to $21.78 million. CEVA posted sales of $17.85 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21%. The business is expected to report its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that CEVA will report full year sales of $21.60 million for the current financial year, with estimates ranging from $85.30 million to $86.80 million. For the next year, analysts expect that the firm will report sales of $95.39 million per share, with estimates ranging from $92.00 million to $99.38 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow CEVA.
CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. CEVA had a return on equity of 8.24% and a net margin of 20.52%. The business had revenue of $20.57 million during the quarter, compared to analyst estimates of $19.66 million. During the same period in the prior year, the company earned $0.21 earnings per share. CEVA’s revenue was up 20.3% compared to the same quarter last year.
A number of brokerages recently weighed in on CEVA. BidaskClub lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Canaccord Genuity boosted their price objective on shares of CEVA from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Roth Capital boosted their target price on shares of CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Benchmark Co. boosted their target price on shares of CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. boosted their target price on shares of CEVA from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $44.71.
In other CEVA news, EVP Issachar Ohana sold 3,900 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $42.40, for a total transaction of $165,360.00. Following the completion of the sale, the executive vice president now directly owns 26,272 shares in the company, valued at approximately $1,113,932.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sven Christer Nilsson sold 9,172 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $42.38, for a total transaction of $388,709.36. Following the sale, the director now owns 24,132 shares of the company’s stock, valued at $1,022,714.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,467 shares of company stock valued at $659,375. Company insiders own 3.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN raised its stake in CEVA by 3.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 640,978 shares of the semiconductor company’s stock valued at $29,132,000 after buying an additional 23,564 shares during the period. Piedmont Investment Advisors LLC bought a new stake in CEVA during the second quarter valued at approximately $211,000. The Manufacturers Life Insurance Company raised its stake in CEVA by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 16,521 shares of the semiconductor company’s stock valued at $751,000 after buying an additional 1,185 shares during the period. State Street Corp raised its stake in CEVA by 1.5% in the second quarter. State Street Corp now owns 582,662 shares of the semiconductor company’s stock valued at $26,484,000 after buying an additional 8,878 shares during the period. Finally, ETF Managers Group LLC bought a new stake in CEVA during the second quarter valued at approximately $319,000. Hedge funds and other institutional investors own 90.16% of the company’s stock.
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CEVA (NASDAQ:CEVA) opened at 42.05 on Thursday. CEVA has a one year low of $28.15 and a one year high of $48.67. The company has a market capitalization of $923.59 million, a price-to-earnings ratio of 55.62 and a beta of 0.63. The firm’s 50-day moving average price is $45.01 and its 200 day moving average price is $39.95.
CEVA Company Profile
CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).
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