CEVA, Inc. (NASDAQ:CEVA) Expected to Announce Quarterly Sales of $24.11 Million

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Analysts predict that CEVA, Inc. (NASDAQ:CEVA) will announce sales of $24.11 million for the current quarter, according to Zacks. Three analysts have made estimates for CEVA’s earnings. The lowest sales estimate is $23.90 million and the highest is $24.42 million. CEVA posted sales of $21.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 12th.

According to Zacks, analysts expect that CEVA will report full-year sales of $82.92 million for the current financial year, with estimates ranging from $82.70 million to $83.26 million. For the next financial year, analysts anticipate that the company will post sales of $83.54 million, with estimates ranging from $81.00 million to $86.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover CEVA.

CEVA (NASDAQ:CEVA) last issued its earnings results on Thursday, November 7th. The semiconductor company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.19. The company had revenue of $23.50 million for the quarter, compared to the consensus estimate of $22.72 million. CEVA had a negative net margin of 0.91% and a positive return on equity of 0.94%. CEVA’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share.

Several analysts have recently commented on CEVA shares. BidaskClub lowered shares of CEVA from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 7th. Canaccord Genuity upped their target price on shares of CEVA from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research lowered shares of CEVA from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Barclays set a $27.00 target price on shares of CEVA and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Cowen reiterated an “outperform” rating and set a $35.00 price target (up from $29.00) on shares of CEVA in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. CEVA currently has an average rating of “Hold” and a consensus target price of $31.40.

Shares of CEVA stock traded up $0.46 during mid-day trading on Friday, hitting $26.19. The stock had a trading volume of 5,452 shares, compared to its average volume of 131,554. The firm has a 50-day moving average of $27.23 and a two-hundred day moving average of $27.30. The firm has a market cap of $565.80 million, a P/E ratio of 239.36, a price-to-earnings-growth ratio of 129.60 and a beta of 1.45. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.03. CEVA has a 12-month low of $20.40 and a 12-month high of $33.16.

A number of institutional investors have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in CEVA by 976.6% in the 2nd quarter. US Bancorp DE now owns 1,658 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 1,504 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of CEVA by 324.6% during the second quarter. Bank of Montreal Can now owns 2,412 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 1,844 shares during the period. Tyers Asset Management LLC boosted its position in CEVA by 10.4% during the second quarter. Tyers Asset Management LLC now owns 3,552 shares of the semiconductor company’s stock worth $87,000 after acquiring an additional 336 shares during the last quarter. Elkfork Partners LLC grew its holdings in CEVA by 10.4% in the 2nd quarter. Elkfork Partners LLC now owns 4,884 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 462 shares during the period. Finally, Strs Ohio acquired a new position in shares of CEVA during the 3rd quarter valued at about $185,000. Hedge funds and other institutional investors own 82.90% of the company’s stock.

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 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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