CEVA, Inc. (NASDAQ:CEVA) Expected to Post Earnings of $0.11 Per Share

Analysts expect CEVA, Inc. (NASDAQ:CEVA) to post $0.11 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have issued estimates for CEVA’s earnings. The lowest EPS estimate is $0.09 and the highest is $0.13. CEVA posted earnings per share of $0.12 during the same quarter last year, which suggests a negative year over year growth rate of 8.3%. The business is expected to report its next earnings results before the market opens on Monday, August 9th.

On average, analysts expect that CEVA will report full-year earnings of $0.55 per share for the current fiscal year, with EPS estimates ranging from $0.47 to $0.58. For the next fiscal year, analysts forecast that the company will report earnings of $0.90 per share, with EPS estimates ranging from $0.70 to $0.98. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for CEVA.

CEVA (NASDAQ:CEVA) last issued its earnings results on Sunday, May 9th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.05). CEVA had a negative return on equity of 0.76% and a negative net margin of 4.72%. The business had revenue of $25.40 million for the quarter, compared to the consensus estimate of $24.01 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis.

CEVA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of CEVA from a “sell” rating to a “hold” rating in a report on Wednesday, June 30th. Northland Securities upgraded shares of CEVA from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $78.00 to $58.00 in a report on Tuesday, May 11th. Rosenblatt Securities initiated coverage on shares of CEVA in a report on Tuesday, June 22nd. They issued a “neutral” rating and a $50.00 price target on the stock. Barclays upgraded shares of CEVA from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $64.00 to $56.00 in a report on Tuesday, May 11th. Finally, Cowen lowered their price target on shares of CEVA from $88.00 to $70.00 and set an “outperform” rating on the stock in a report on Tuesday, May 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CEVA currently has a consensus rating of “Buy” and a consensus target price of $58.57.

In other news, COO Michael Boukaya sold 2,331 shares of CEVA stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $43.56, for a total transaction of $101,538.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in CEVA. Lord Abbett & CO. LLC grew its stake in CEVA by 24.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,516,426 shares of the semiconductor company’s stock valued at $85,147,000 after acquiring an additional 301,423 shares during the period. Psagot Investment House Ltd. grew its stake in CEVA by 528.5% in the 1st quarter. Psagot Investment House Ltd. now owns 265,250 shares of the semiconductor company’s stock valued at $14,894,000 after acquiring an additional 223,043 shares during the period. BlackRock Inc. grew its stake in CEVA by 6.0% in the 1st quarter. BlackRock Inc. now owns 3,625,912 shares of the semiconductor company’s stock valued at $203,595,000 after acquiring an additional 205,638 shares during the period. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new stake in CEVA in the 1st quarter valued at $5,775,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in CEVA by 255.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,655 shares of the semiconductor company’s stock valued at $7,336,000 after acquiring an additional 93,910 shares during the period. 78.71% of the stock is currently owned by hedge funds and other institutional investors.

CEVA stock traded down $0.73 during midday trading on Thursday, hitting $43.36. 2,290 shares of the company’s stock were exchanged, compared to its average volume of 111,729. CEVA has a 12 month low of $35.62 and a 12 month high of $83.95. The business’s 50-day moving average price is $44.42. The firm has a market cap of $989.04 million, a P/E ratio of -206.48, a PEG ratio of 141.30 and a beta of 1.04.

About CEVA

CEVA, Inc operates as a licensor of wireless connectivity and smart sensing platforms to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI).

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