CEVA, Inc. (NASDAQ:CEVA) Expected to Post Quarterly Sales of $24.48 Million

Analysts expect CEVA, Inc. (NASDAQ:CEVA) to announce sales of $24.48 million for the current quarter, according to Zacks. Three analysts have made estimates for CEVA’s earnings, with the highest sales estimate coming in at $25.53 million and the lowest estimate coming in at $23.90 million. CEVA posted sales of $21.40 million during the same quarter last year, which suggests a positive year over year growth rate of 14.4%. The business is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, February 18th.

According to Zacks, analysts expect that CEVA will report full-year sales of $83.29 million for the current financial year, with estimates ranging from $82.70 million to $84.37 million. For the next fiscal year, analysts anticipate that the company will post sales of $84.59 million, with estimates ranging from $81.00 million to $86.78 million. Zacks’ sales calculations are an average based on a survey of analysts that follow CEVA.

CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, November 7th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.19. The company had revenue of $23.50 million for the quarter, compared to analysts’ expectations of $22.72 million. CEVA had a positive return on equity of 0.94% and a negative net margin of 0.91%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share.

A number of equities research analysts recently weighed in on CEVA shares. BidaskClub cut shares of CEVA from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 7th. Zacks Investment Research raised CEVA from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday. Finally, ValuEngine lowered CEVA from a “buy” rating to a “hold” rating in a report on Saturday, January 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.40.

Large investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in CEVA by 0.7% during the 3rd quarter. State Street Corp now owns 690,186 shares of the semiconductor company’s stock valued at $20,609,000 after acquiring an additional 4,663 shares in the last quarter. Millennium Management LLC grew its stake in CEVA by 741.8% during the 3rd quarter. Millennium Management LLC now owns 136,460 shares of the semiconductor company’s stock valued at $4,074,000 after acquiring an additional 120,250 shares in the last quarter. California Public Employees Retirement System grew its stake in CEVA by 13.8% during the 3rd quarter. California Public Employees Retirement System now owns 52,117 shares of the semiconductor company’s stock valued at $1,556,000 after acquiring an additional 6,336 shares in the last quarter. Comerica Bank grew its stake in CEVA by 2.0% during the 3rd quarter. Comerica Bank now owns 20,669 shares of the semiconductor company’s stock valued at $584,000 after acquiring an additional 398 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in CEVA by 21.0% during the 3rd quarter. Penserra Capital Management LLC now owns 26,895 shares of the semiconductor company’s stock valued at $803,000 after acquiring an additional 4,671 shares in the last quarter. 82.75% of the stock is currently owned by institutional investors.

Shares of NASDAQ CEVA opened at $28.87 on Wednesday. CEVA has a fifty-two week low of $21.69 and a fifty-two week high of $33.16. The firm’s 50-day simple moving average is $26.91 and its 200 day simple moving average is $28.10. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.03. The stock has a market cap of $603.49 million, a P/E ratio of 262.45 and a beta of 1.46.

About CEVA

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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