CEVA, Inc. (CEVA) Expected to Post Quarterly Sales of $17.87 Million

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Equities analysts predict that CEVA, Inc. (NASDAQ:CEVA) will announce $17.87 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for CEVA’s earnings. The highest sales estimate is $19.10 million and the lowest is $17.00 million. CEVA reported sales of $17.57 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The company is expected to report its next earnings results before the market opens on Monday, May 6th.

On average, analysts expect that CEVA will report full-year sales of $79.77 million for the current financial year, with estimates ranging from $79.50 million to $80.00 million. For the next financial year, analysts anticipate that the company will report sales of $90.65 million, with estimates ranging from $85.94 million to $96.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for CEVA.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.08. CEVA had a net margin of 0.74% and a return on equity of 1.00%. The company had revenue of $21.40 million during the quarter, compared to analyst estimates of $22.07 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis.

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of CEVA from a “hold” rating to a “buy” rating in a research report on Saturday. Northland Securities lowered shares of CEVA from an “outperform” rating to a “market perform” rating and set a $27.00 price objective for the company. in a research report on Thursday, February 14th. Cowen reduced their price objective on shares of CEVA from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, February 14th. Canaccord Genuity restated a “buy” rating and set a $35.00 price objective (down previously from $41.00) on shares of CEVA in a research report on Wednesday, February 13th. Finally, ValuEngine lowered shares of CEVA from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. CEVA currently has an average rating of “Buy” and a consensus price target of $33.43.

In other CEVA news, EVP Issachar Ohana sold 6,670 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.00, for a total value of $186,760.00. Following the completion of the transaction, the executive vice president now directly owns 34,616 shares in the company, valued at $969,248. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Roubaix Capital LLC acquired a new position in shares of CEVA in the first quarter worth about $2,887,000. Legal & General Group Plc boosted its holdings in shares of CEVA by 6.8% in the third quarter. Legal & General Group Plc now owns 46,776 shares of the semiconductor company’s stock worth $1,342,000 after buying an additional 2,986 shares during the period. Vanguard Group Inc boosted its holdings in shares of CEVA by 1.8% in the third quarter. Vanguard Group Inc now owns 2,262,434 shares of the semiconductor company’s stock worth $65,044,000 after buying an additional 40,886 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of CEVA by 6.3% in the fourth quarter. Two Sigma Advisers LP now owns 104,987 shares of the semiconductor company’s stock worth $2,319,000 after buying an additional 6,189 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of CEVA in the fourth quarter worth about $1,588,000. Institutional investors own 88.58% of the company’s stock.

NASDAQ:CEVA opened at $28.31 on Tuesday. CEVA has a twelve month low of $20.40 and a twelve month high of $37.65. The stock has a market cap of $632.30 million, a PE ratio of 257.36 and a beta of 1.74.

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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