Wall Street analysts forecast that CEVA, Inc. (NASDAQ:CEVA) will post earnings per share of $0.20 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for CEVA’s earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.21. CEVA reported earnings of $0.36 per share during the same quarter last year, which indicates a negative year over year growth rate of 44.4%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, November 8th.
On average, analysts expect that CEVA will report full-year earnings of $0.55 per share for the current financial year, with EPS estimates ranging from $0.54 to $0.56. For the next fiscal year, analysts anticipate that the company will report earnings of $0.94 per share, with EPS estimates ranging from $0.77 to $1.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CEVA.
CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $17.49 million during the quarter, compared to analysts’ expectations of $18.95 million. CEVA had a net margin of 5.87% and a return on equity of 2.43%.
Several equities research analysts have issued reports on the stock. BidaskClub cut shares of CEVA from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Canaccord Genuity reissued a “buy” rating and issued a $36.00 price objective on shares of CEVA in a research report on Tuesday, August 7th. Zacks Investment Research raised shares of CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. ValuEngine raised shares of CEVA from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Roth Capital lowered their price objective on shares of CEVA from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.67.
In other news, Director Maria Marced sold 2,770 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $29.50, for a total value of $81,715.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CEVA. Piedmont Investment Advisors LLC purchased a new stake in shares of CEVA in the 2nd quarter worth approximately $156,000. SG Americas Securities LLC purchased a new stake in shares of CEVA in the 2nd quarter worth approximately $192,000. WINTON GROUP Ltd purchased a new stake in shares of CEVA in the 1st quarter worth approximately $203,000. GSA Capital Partners LLP purchased a new stake in shares of CEVA in the 2nd quarter worth approximately $221,000. Finally, BlueMountain Capital Management LLC lifted its position in shares of CEVA by 93.6% in the 2nd quarter. BlueMountain Capital Management LLC now owns 8,689 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 4,201 shares during the period. 87.08% of the stock is owned by hedge funds and other institutional investors.
CEVA stock opened at $25.98 on Friday. The stock has a market capitalization of $581.85 million, a price-to-earnings ratio of 101.58, a P/E/G ratio of 18.86 and a beta of 1.38. CEVA has a 1 year low of $23.01 and a 1 year high of $51.80.
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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