Analysts predict that CEVA, Inc. (NASDAQ:CEVA) will report sales of $19.58 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for CEVA’s earnings, with the lowest sales estimate coming in at $19.22 million and the highest estimate coming in at $19.90 million. CEVA posted sales of $17.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.5%. The company is expected to issue its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that CEVA will report full-year sales of $19.58 million for the current year, with estimates ranging from $82.58 million to $83.34 million. For the next financial year, analysts forecast that the company will report sales of $93.99 million per share, with estimates ranging from $92.00 million to $95.95 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for CEVA.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.09. The firm had revenue of $21.30 million for the quarter, compared to analysts’ expectations of $20.98 million. CEVA had a net margin of 19.90% and a return on equity of 7.99%. The firm’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share.
Several equities research analysts have recently weighed in on the company. Benchmark Co. increased their price objective on CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Wunderlich reissued a “buy” rating and issued a $40.00 price objective on shares of CEVA in a research report on Monday, March 27th. Oppenheimer Holdings, Inc. increased their price objective on CEVA from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Canaccord Genuity increased their price objective on CEVA from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Finally, Zacks Investment Research raised CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. CEVA has a consensus rating of “Buy” and a consensus target price of $41.14.
CEVA (NASDAQ:CEVA) traded up 0.55% during mid-day trading on Friday, reaching $45.45. 262,603 shares of the company traded hands. CEVA has a 52-week low of $24.55 and a 52-week high of $48.67. The company has a market capitalization of $979.58 million, a P/E ratio of 64.19 and a beta of 0.62. The stock has a 50 day moving average price of $42.69 and a 200-day moving average price of $36.37.
In related news, EVP Issachar Ohana sold 5,361 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $41.84, for a total value of $224,304.24. Following the completion of the transaction, the executive vice president now directly owns 35,822 shares of the company’s stock, valued at $1,498,792.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gideon Wertheizer sold 898 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $42.25, for a total value of $37,940.50. Following the completion of the transaction, the chief executive officer now directly owns 81,783 shares of the company’s stock, valued at $3,455,331.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,722 shares of company stock valued at $6,346,768. 3.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of CEVA by 149,831.4% in the first quarter. BlackRock Inc. now owns 2,532,342 shares of the semiconductor company’s stock valued at $89,898,000 after buying an additional 2,530,653 shares during the period. Pictet Asset Management Ltd. purchased a new position in shares of CEVA during the first quarter valued at approximately $15,238,000. Teachers Advisors LLC boosted its position in shares of CEVA by 723.5% in the first quarter. Teachers Advisors LLC now owns 313,466 shares of the semiconductor company’s stock valued at $11,128,000 after buying an additional 275,403 shares during the period. Ranger Investment Management L.P. boosted its position in shares of CEVA by 52.3% in the fourth quarter. Ranger Investment Management L.P. now owns 761,773 shares of the semiconductor company’s stock valued at $25,557,000 after buying an additional 261,649 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in shares of CEVA during the fourth quarter valued at approximately $5,953,000. 93.95% of the stock is owned by hedge funds and other institutional investors.
CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).
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