Analysts expect that CEVA, Inc. (NASDAQ:CEVA) will report sales of $21.44 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for CEVA’s earnings. The highest sales estimate is $21.50 million and the lowest is $21.32 million. CEVA posted sales of $24.04 million during the same quarter last year, which indicates a negative year over year growth rate of 10.8%. The company is scheduled to announce its next earnings results before the market opens on Thursday, November 8th.
On average, analysts expect that CEVA will report full year sales of $80.28 million for the current year, with estimates ranging from $80.10 million to $80.60 million. For the next year, analysts expect that the firm will post sales of $92.79 million, with estimates ranging from $88.98 million to $97.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for CEVA.
CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $17.49 million for the quarter, compared to the consensus estimate of $18.95 million. CEVA had a net margin of 5.87% and a return on equity of 2.43%.
A number of research analysts have weighed in on the company. BidaskClub raised CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Barclays lowered their target price on CEVA from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, August 8th. Roth Capital lowered their target price on CEVA from $44.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Canaccord Genuity reissued a “buy” rating and issued a $36.00 target price on shares of CEVA in a report on Tuesday, August 7th. Finally, Zacks Investment Research raised CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. CEVA currently has an average rating of “Hold” and a consensus price target of $38.00.
In other CEVA news, Director Maria Marced sold 2,770 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $29.50, for a total value of $81,715.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CEVA. Summit Trail Advisors LLC raised its stake in shares of CEVA by 2,352.4% in the first quarter. Summit Trail Advisors LLC now owns 717,944 shares of the semiconductor company’s stock worth $718,000 after buying an additional 688,669 shares during the period. BlackRock Inc. raised its stake in shares of CEVA by 8.6% in the second quarter. BlackRock Inc. now owns 3,122,455 shares of the semiconductor company’s stock worth $94,298,000 after buying an additional 246,611 shares during the period. Rice Hall James & Associates LLC raised its stake in shares of CEVA by 10.9% in the second quarter. Rice Hall James & Associates LLC now owns 644,003 shares of the semiconductor company’s stock worth $19,449,000 after buying an additional 63,136 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CEVA by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 633,891 shares of the semiconductor company’s stock worth $22,947,000 after buying an additional 48,157 shares during the period. Finally, Baillie Gifford & Co. raised its stake in shares of CEVA by 14.1% in the second quarter. Baillie Gifford & Co. now owns 366,544 shares of the semiconductor company’s stock worth $11,070,000 after buying an additional 45,294 shares during the period. 86.73% of the stock is currently owned by hedge funds and other institutional investors.
CEVA stock opened at $24.79 on Friday. CEVA has a fifty-two week low of $24.33 and a fifty-two week high of $51.80. The stock has a market capitalization of $633.40 million, a price-to-earnings ratio of 31.18, a PEG ratio of 20.54 and a beta of 1.12.
CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of Things (IoT) markets worldwide. The company licenses a family of programmable digital signal processor (DSP) cores and application-specific platforms for imaging, computer vision, deep learning, sound, voice, and audio processing; and long range wireless technologies for LTE/5G baseband processing in IoT, handsets, and infrastructure, as well as short range wireless platforms for Wi-Fi and Bluetooth.
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