CEVA, Inc. (CEVA) Expected to Announce Quarterly Sales of $23.76 Million

Analysts expect CEVA, Inc. (NASDAQ:CEVA) to report sales of $23.76 million for the current quarter, Zacks reports. Three analysts have made estimates for CEVA’s earnings, with the highest sales estimate coming in at $24.00 million and the lowest estimate coming in at $23.50 million. CEVA posted sales of $21.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that CEVA will report full-year sales of $80.28 million for the current fiscal year, with estimates ranging from $80.10 million to $80.60 million. For the next financial year, analysts anticipate that the business will post sales of $92.79 million, with estimates ranging from $88.98 million to $97.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover CEVA.

CEVA (NASDAQ:CEVA) last announced its earnings results on Thursday, November 8th. The semiconductor company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $21.40 million during the quarter, compared to the consensus estimate of $21.37 million. CEVA had a return on equity of 2.43% and a net margin of 5.87%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share.

A number of research firms have issued reports on CEVA. BidaskClub upgraded CEVA from a “strong sell” rating to a “sell” rating in a report on Wednesday. ValuEngine raised CEVA from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Canaccord Genuity increased their target price on CEVA from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Zacks Investment Research raised CEVA from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Roth Capital cut their target price on CEVA from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. CEVA presently has a consensus rating of “Buy” and an average price target of $38.67.

CEVA traded down $1.46 during trading on Tuesday, reaching $27.89. The stock had a trading volume of 29,553 shares, compared to its average volume of 131,352. The company has a market cap of $572.38 million, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 18.56 and a beta of 1.38. CEVA has a one year low of $23.01 and a one year high of $51.80.

In related news, Director Maria Marced sold 2,770 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $29.50, for a total transaction of $81,715.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.

A number of large investors have recently made changes to their positions in CEVA. Dimensional Fund Advisors LP boosted its position in CEVA by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 633,891 shares of the semiconductor company’s stock worth $22,947,000 after purchasing an additional 48,157 shares during the last quarter. WINTON GROUP Ltd bought a new stake in CEVA during the 1st quarter valued at approximately $203,000. Principal Financial Group Inc. raised its stake in CEVA by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 181,006 shares of the semiconductor company’s stock valued at $6,552,000 after purchasing an additional 6,939 shares during the period. Baillie Gifford & Co. raised its stake in CEVA by 14.1% during the 2nd quarter. Baillie Gifford & Co. now owns 366,544 shares of the semiconductor company’s stock valued at $11,070,000 after purchasing an additional 45,294 shares during the period. Finally, Skylands Capital LLC raised its stake in CEVA by 18.0% during the 2nd quarter. Skylands Capital LLC now owns 23,600 shares of the semiconductor company’s stock valued at $713,000 after purchasing an additional 3,600 shares during the period. 87.08% of the stock is currently owned by institutional investors and hedge funds.

About CEVA

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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