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.
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.
Recommended Story: Technical Indicators – What is a Golden Cross?
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.