Wall Street analysts expect CEVA, Inc. (NASDAQ:CEVA) to report $22.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for CEVA’s earnings, with estimates ranging from $22.00 million to $22.99 million. CEVA posted sales of $21.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The firm is scheduled to report its next quarterly earnings results before the market opens on Wednesday, February 13th.
On average, analysts expect that CEVA will report full-year sales of $78.82 million for the current fiscal year, with estimates ranging from $78.50 million to $79.46 million. For the next year, analysts expect that the company will report sales of $86.46 million, with estimates ranging from $84.40 million to $89.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow CEVA.
CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Thursday, November 8th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $21.40 million for the quarter, compared to analysts’ expectations of $21.37 million. CEVA had a return on equity of 1.08% and a net margin of 1.84%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share.
Several equities research analysts have commented on CEVA shares. Zacks Investment Research raised CEVA from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a report on Wednesday, November 14th. ValuEngine downgraded CEVA from a “buy” rating to a “hold” rating in a report on Monday, February 4th. BidaskClub downgraded CEVA from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Finally, Canaccord Genuity boosted their target price on CEVA from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, October 16th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. CEVA currently has an average rating of “Buy” and a consensus price target of $37.29.
CEVA stock traded down $0.08 during midday trading on Thursday, hitting $29.39. The stock had a trading volume of 100,162 shares, compared to its average volume of 127,320. The stock has a market cap of $643.70 million, a price-to-earnings ratio of 36.74, a PEG ratio of 7.94 and a beta of 1.76. CEVA has a 52-week low of $20.40 and a 52-week high of $41.50.
Large investors have recently made changes to their positions in the company. Penserra Capital Management LLC lifted its holdings in shares of CEVA by 43.6% during the fourth quarter. Penserra Capital Management LLC now owns 1,761 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 535 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in shares of CEVA during the fourth quarter valued at $184,000. Ontario Teachers Pension Plan Board bought a new position in shares of CEVA during the third quarter valued at $415,000. First Republic Investment Management Inc. lifted its holdings in shares of CEVA by 40.8% during the third quarter. First Republic Investment Management Inc. now owns 15,419 shares of the semiconductor company’s stock valued at $443,000 after purchasing an additional 4,465 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in shares of CEVA by 53.6% during the third quarter. MetLife Investment Advisors LLC now owns 15,643 shares of the semiconductor company’s stock valued at $450,000 after purchasing an additional 5,460 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.
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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