Zacks: Analysts Anticipate CEVA, Inc. (NASDAQ:CEVA) Will Post Earnings of $0.10 Per Share

Brokerages predict that CEVA, Inc. (NASDAQ:CEVA) will report earnings per share (EPS) of $0.10 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for CEVA’s earnings, with estimates ranging from $0.06 to $0.12. CEVA reported earnings of $0.22 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 54.5%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, November 5th.

On average, analysts expect that CEVA will report full year earnings of $0.50 per share for the current year, with EPS estimates ranging from $0.46 to $0.52. For the next year, analysts forecast that the firm will report earnings of $0.64 per share, with EPS estimates ranging from $0.37 to $0.80. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for CEVA.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.08. CEVA had a net margin of 1.58% and a return on equity of 2.20%. The company had revenue of $23.60 million for the quarter, compared to the consensus estimate of $20.78 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue was up 28.3% compared to the same quarter last year.

Several research analysts have recently issued reports on CEVA shares. Roth Capital boosted their price objective on shares of CEVA from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 10th. BidaskClub raised shares of CEVA from a “hold” rating to a “buy” rating in a research note on Thursday, September 24th. Zacks Investment Research cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. ValuEngine raised shares of CEVA from a “hold” rating to a “buy” rating in a research note on Monday, October 12th. Finally, Cowen upped their target price on shares of CEVA from $45.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $45.67.

In other CEVA news, COO Michael Boukaya sold 2,338 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $42.86, for a total value of $100,206.68. Following the transaction, the chief operating officer now directly owns 16,975 shares in the company, valued at $727,548.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter Mcmanamon sold 57,068 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $43.00, for a total transaction of $2,453,924.00. Following the completion of the transaction, the director now owns 17,254 shares in the company, valued at $741,922. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,791 shares of company stock worth $4,066,486. Company insiders own 3.81% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CEVA. US Bancorp DE boosted its position in CEVA by 42.0% in the first quarter. US Bancorp DE now owns 2,444 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 723 shares in the last quarter. Bank of Montreal Can boosted its position in CEVA by 321.9% in the second quarter. Bank of Montreal Can now owns 2,852 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 2,176 shares in the last quarter. First Quadrant L P CA boosted its position in CEVA by 19.1% in the second quarter. First Quadrant L P CA now owns 3,088 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 495 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CEVA by 188.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,986 shares of the semiconductor company’s stock valued at $149,000 after buying an additional 2,602 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of CEVA by 305.7% during the first quarter. Royal Bank of Canada now owns 8,403 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 6,332 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Shares of NASDAQ:CEVA traded down $0.46 on Tuesday, hitting $43.42. 53,773 shares of the company were exchanged, compared to its average volume of 142,410. The company’s 50 day moving average price is $39.89 and its two-hundred day moving average price is $36.07. CEVA has a one year low of $20.45 and a one year high of $46.50. The firm has a market capitalization of $962.14 million, a price-to-earnings ratio of 620.29 and a beta of 1.43.

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.

Further Reading: Net Margin

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