CEVA (CEVA) Issues Earnings Results

CEVA (NASDAQ:CEVA) posted its earnings results on Tuesday. The semiconductor company reported $0.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.25, Bloomberg Earnings reports. The business had revenue of $21.60 million during the quarter, compared to analyst estimates of $21.17 million. CEVA had a return on equity of 9.02% and a net margin of 21.89%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS.

Shares of CEVA (NASDAQ:CEVA) opened at $40.35 on Tuesday. The firm has a market capitalization of $906.47, a P/E ratio of 45.83, a P/E/G ratio of 2.33 and a beta of 0.72. CEVA has a 12-month low of $32.80 and a 12-month high of $51.80.

In related news, EVP Issachar Ohana sold 1,965 shares of the business’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 value of $98,446.50. Following the completion of the sale, the executive vice president now owns 28,289 shares in the company, valued at approximately $1,417,278.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eliyahu Ayalon sold 9,215 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $46.00, for a total value of $423,890.00. Following the completion of the sale, the director now owns 11,586 shares of the company’s stock, valued at approximately $532,956. The disclosure for this sale can be found here. Insiders sold a total of 67,682 shares of company stock valued at $3,257,929 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new position in CEVA in the 2nd quarter worth approximately $211,000. Cubist Systematic Strategies LLC purchased a new position in CEVA in the 3rd quarter worth approximately $213,000. GSA Capital Partners LLP purchased a new position in CEVA in the 3rd quarter worth approximately $239,000. Icon Advisers Inc. Co. purchased a new position in CEVA in the 3rd quarter worth approximately $291,000. Finally, UBS Asset Management Americas Inc. increased its stake in CEVA by 8.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,699 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 500 shares during the period. Institutional investors own 86.73% of the company’s stock.

CEVA has been the subject of a number of research analyst reports. BidaskClub downgraded CEVA from a “hold” rating to a “sell” rating in a research report on Monday. Canaccord Genuity lifted their price target on CEVA from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Oppenheimer downgraded CEVA from an “outperform” rating to a “hold” rating in a research report on Wednesday, January 24th. They noted that the move was a valuation call. UBS Group downgraded CEVA from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research downgraded CEVA from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.83.

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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).

Earnings History for CEVA (NASDAQ:CEVA)

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