Wall Street brokerages expect CEVA, Inc. (NASDAQ:CEVA) to post earnings of $0.02 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for CEVA’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at $0.01. CEVA reported earnings of $0.04 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 50%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, August 8th.
On average, analysts expect that CEVA will report full year earnings of $0.34 per share for the current year, with EPS estimates ranging from $0.23 to $0.42. For the next year, analysts expect that the business will report earnings of $0.64 per share, with EPS estimates ranging from $0.45 to $0.85. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for CEVA.
CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). CEVA had a net margin of 0.59% and a return on equity of 0.88%. The company had revenue of $17.00 million for the quarter, compared to the consensus estimate of $17.65 million. During the same period in the prior year, the firm posted $0.04 EPS. The business’s revenue for the quarter was down 3.4% on a year-over-year basis.
A number of equities analysts have recently weighed in on the company. Cowen reaffirmed a “hold” rating and issued a $353.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Tuesday, May 7th. Exane BNP Paribas lowered CEVA from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 17th. BidaskClub raised Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. BNP Paribas reaffirmed a “neutral” rating on shares of CEVA in a research note on Wednesday, April 17th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $27.00 price objective on shares of CEVA in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $31.67.
Shares of NASDAQ CEVA traded up $0.18 during mid-day trading on Monday, reaching $25.59. The company’s stock had a trading volume of 55,462 shares, compared to its average volume of 134,127. The company has a market cap of $558.36 million, a price-to-earnings ratio of 232.64 and a beta of 1.65. The firm’s fifty day simple moving average is $24.29. CEVA has a 52 week low of $20.40 and a 52 week high of $32.90.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1492 Capital Management LLC purchased a new position in shares of CEVA during the 1st quarter valued at about $582,000. Kennedy Capital Management Inc. raised its stake in shares of CEVA by 43.7% during the 1st quarter. Kennedy Capital Management Inc. now owns 143,673 shares of the semiconductor company’s stock valued at $3,873,000 after buying an additional 43,673 shares during the last quarter. Delek Group Ltd. purchased a new position in shares of CEVA during the 1st quarter valued at about $405,000. Meitav Dash Investments Ltd. purchased a new position in shares of CEVA during the 1st quarter valued at about $233,000. Finally, Penserra Capital Management LLC raised its stake in shares of CEVA by 70.4% during the 1st quarter. Penserra Capital Management LLC now owns 3,000 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,239 shares during the last quarter. 85.12% of the stock is owned by hedge funds and other institutional investors.
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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