$19.17 Million in Sales Expected for CEVA, Inc. (CEVA) This Quarter

Analysts expect that CEVA, Inc. (NASDAQ:CEVA) will post sales of $19.17 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for CEVA’s earnings, with estimates ranging from $18.00 million to $20.35 million. CEVA reported sales of $21.29 million during the same quarter last year, which would indicate a negative year over year growth rate of 10%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 3rd.

On average, analysts expect that CEVA will report full-year sales of $19.17 million for the current year, with estimates ranging from $92.00 million to $92.13 million. For the next fiscal year, analysts forecast that the company will post sales of $101.95 million per share, with estimates ranging from $101.60 million to $102.31 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow CEVA.

CEVA (NASDAQ:CEVA) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The company had revenue of $21.60 million during the quarter, compared to analyst estimates of $21.17 million. CEVA had a return on equity of 7.82% and a net margin of 19.46%. CEVA’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share.

A number of research firms have weighed in on CEVA. UBS Group lowered CEVA from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 24th. Oppenheimer lowered CEVA from an “outperform” rating to a “hold” rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. Canaccord Genuity upped their target price on CEVA from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research lowered CEVA from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Finally, BidaskClub lowered CEVA from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $47.57.

In other news, CEO Gideon Wertheizer sold 20,603 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $49.28, for a total transaction of $1,015,315.84. Following the completion of the sale, the chief executive officer now owns 82,497 shares in the company, valued at approximately $4,065,452.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Issachar Ohana sold 1,965 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $50.10, for a total value of $98,446.50. Following the sale, the executive vice president now owns 28,289 shares of the company’s stock, valued at approximately $1,417,278.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,467 shares of company stock valued at $2,834,039. Company insiders own 3.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of CEVA by 2.7% during the 4th quarter. BlackRock Inc. now owns 2,793,672 shares of the semiconductor company’s stock valued at $128,927,000 after purchasing an additional 74,613 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of CEVA by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,983,620 shares of the semiconductor company’s stock valued at $90,155,000 after purchasing an additional 53,209 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of CEVA by 61.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock valued at $60,648,000 after purchasing an additional 505,443 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of CEVA by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 617,663 shares of the semiconductor company’s stock valued at $26,436,000 after acquiring an additional 13,633 shares during the period. Finally, Ranger Investment Management L.P. increased its position in shares of CEVA by 7.7% in the 4th quarter. Ranger Investment Management L.P. now owns 602,256 shares of the semiconductor company’s stock valued at $27,794,000 after acquiring an additional 42,812 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Shares of CEVA (NASDAQ CEVA) opened at $35.60 on Thursday. The firm has a market capitalization of $783.41, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. CEVA has a twelve month low of $32.80 and a twelve month high of $51.80.

WARNING: This story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/02/15/19-17-million-in-sales-expected-for-ceva-inc-ceva-this-quarter.html.

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).

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

Leave a Reply