Wall Street brokerages expect that CEVA, Inc. (NASDAQ:CEVA) will post $21.02 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for CEVA’s earnings. The highest sales estimate is $21.04 million and the lowest is $21.00 million. CEVA reported sales of $21.20 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.8%. The firm is expected to report its next earnings results on Wednesday, February 7th.

On average, analysts expect that CEVA will report full-year sales of $21.02 million for the current year, with estimates ranging from $86.90 million to $86.94 million. For the next fiscal year, analysts anticipate that the company will report sales of $97.22 million per share, with estimates ranging from $92.50 million to $100.83 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for CEVA.

CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. CEVA had a return on equity of 9.02% and a net margin of 21.89%. The firm had revenue of $24.00 million during the quarter, compared to analysts’ expectations of $21.56 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The company’s revenue was up 34.1% on a year-over-year basis.

A number of brokerages have recently commented on CEVA. Zacks Investment Research lowered CEVA from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Canaccord Genuity upped their price target on CEVA from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. CEVA presently has an average rating of “Buy” and a consensus price target of $46.71.

CEVA (NASDAQ CEVA) opened at $45.55 on Friday. CEVA has a 1-year low of $30.55 and a 1-year high of $51.80. The company has a market capitalization of $1,000.41, a P/E ratio of 50.58, a PEG ratio of 2.96 and a beta of 0.74.

In other news, EVP Issachar Ohana sold 1,965 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $50.10, for a total transaction of $98,446.50. Following the completion of the transaction, the executive vice president now directly owns 28,289 shares in the company, valued at $1,417,278.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eliyahu Ayalon sold 9,215 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.00, for a total value of $423,890.00. Following the completion of the transaction, the director now owns 11,586 shares of the company’s stock, valued at $532,956. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,682 shares of company stock valued at $3,257,929. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pinebridge Investments L.P. raised its stake in shares of CEVA by 2.2% in the second quarter. Pinebridge Investments L.P. now owns 2,831 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 62 shares in the last quarter. Arizona State Retirement System raised its stake in shares of CEVA by 0.9% in the second quarter. Arizona State Retirement System now owns 11,186 shares of the semiconductor company’s stock valued at $508,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of CEVA by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 100 shares in the last quarter. Texas Permanent School Fund raised its stake in shares of CEVA by 2.0% in the second quarter. Texas Permanent School Fund now owns 15,683 shares of the semiconductor company’s stock valued at $713,000 after purchasing an additional 312 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of CEVA by 9.2% in the second quarter. US Bancorp DE now owns 3,727 shares of the semiconductor company’s stock valued at $169,000 after purchasing an additional 313 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

WARNING: “CEVA, Inc. (CEVA) Expected to Announce Quarterly Sales of $21.02 Million” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/12/08/ceva-inc-ceva-expected-to-announce-quarterly-sales-of-21-02-million.html.

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).

Get a free copy of the Zacks research report on CEVA (CEVA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CEVA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEVA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.