CEVA (NASDAQ:CEVA) announced its earnings results on Thursday. The semiconductor company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.19, Briefing.com reports. The firm had revenue of $23.50 million for the quarter, compared to the consensus estimate of $22.72 million. CEVA had a return on equity of 1.12% and a net margin of 1.33%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 EPS.
CEVA traded down $1.96 during midday trading on Friday, reaching $26.79. 245,000 shares of the company were exchanged, compared to its average volume of 123,808. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.46 and a current ratio of 8.46. The company’s fifty day moving average price is $28.79 and its 200 day moving average price is $27.05. The company has a market cap of $619.63 million, a price-to-earnings ratio of 243.55 and a beta of 1.49. CEVA has a one year low of $20.40 and a one year high of $33.16.
In related news, Director Maria Marced sold 2,064 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $32.07, for a total value of $66,192.48. Following the transaction, the director now owns 7,121 shares in the company, valued at $228,370.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.
A number of brokerages have recently issued reports on CEVA. Zacks Investment Research raised CEVA from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Friday. Canaccord Genuity boosted their price objective on CEVA from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine downgraded CEVA from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Barclays set a $27.00 price objective on CEVA and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Cowen reissued an “outperform” rating and issued a $35.00 price objective (up from $29.00) on shares of CEVA in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.40.
CEVA Company Profile
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 signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.
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