Equities analysts expect CEVA, Inc. (NASDAQ:CEVA) to report $21.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for CEVA’s earnings, with the highest sales estimate coming in at $21.78 million and the lowest estimate coming in at $21.50 million. CEVA posted sales of $17.85 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21%. The business is scheduled to report its next quarterly earnings results before the market opens on Wednesday, November 1st.

According to Zacks, analysts expect that CEVA will report full-year sales of $21.60 million for the current year, with estimates ranging from $85.30 million to $86.80 million. For the next year, analysts forecast that the business will post sales of $95.39 million per share, with estimates ranging from $92.00 million to $99.38 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow CEVA.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $20.57 million during the quarter, compared to analyst estimates of $19.66 million. CEVA had a net margin of 20.52% and a return on equity of 8.24%. CEVA’s revenue was up 20.3% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS.

A number of brokerages recently issued reports on CEVA. Roth Capital upped their price target on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a report on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $53.00 price target (down from $54.00) on shares of CEVA in a report on Tuesday, October 3rd. BidaskClub downgraded CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research downgraded CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $46.57.

CEVA (NASDAQ CEVA) traded up 0.97% during trading on Tuesday, reaching $46.80. 13,167 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $43.60 and a 200-day moving average of $43.02. The stock has a market capitalization of $1.03 billion, a PE ratio of 61.90 and a beta of 0.71. CEVA has a 52 week low of $28.15 and a 52 week high of $49.50.

Several hedge funds have recently bought and sold shares of CEVA. BlackRock Inc. raised its stake in shares of CEVA by 2.4% during the second quarter. BlackRock Inc. now owns 2,591,984 shares of the semiconductor company’s stock worth $117,806,000 after purchasing an additional 59,642 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of CEVA by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,983,620 shares of the semiconductor company’s stock worth $90,155,000 after purchasing an additional 53,209 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of CEVA by 61.0% during the second quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock worth $60,648,000 after purchasing an additional 505,443 shares during the last quarter. Oaktop Capital Management II L.P. purchased a new stake in shares of CEVA during the second quarter worth approximately $33,807,000. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of CEVA by 3.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 640,978 shares of the semiconductor company’s stock worth $29,132,000 after purchasing an additional 23,564 shares during the last quarter. 86.91% of the stock is owned by institutional investors and hedge funds.

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About CEVA

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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