$21.12 Million in Sales Expected for CEVA, Inc. (CEVA) This Quarter

Brokerages expect that CEVA, Inc. (NASDAQ:CEVA) will post $21.12 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CEVA’s earnings. The highest sales estimate is $21.33 million and the lowest is $21.00 million. CEVA posted sales of $21.20 million in the same quarter last year, which suggests a negative year over year growth rate of 0.4%. The business is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, February 6th.

According to Zacks, analysts expect that CEVA will report full year sales of $21.12 million for the current year, with estimates ranging from $86.90 million to $87.24 million. For the next financial year, analysts forecast that the firm will report sales of $93.43 million per share, with estimates ranging from $89.46 million to $98.32 million. Zacks’ sales averages 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 results on Wednesday, November 1st. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The company had revenue of $24.00 million for the quarter, compared to analyst estimates of $21.56 million. CEVA had a return on equity of 9.02% and a net margin of 21.89%. CEVA’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS.

Several equities research analysts have recently weighed in on CEVA shares. Zacks Investment Research raised CEVA from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, October 3rd. Canaccord Genuity reissued a “buy” rating and set a $53.00 target price (down previously from $54.00) on shares of CEVA in a research report on Tuesday, October 3rd. Oppenheimer lowered CEVA from an “outperform” rating to a “hold” rating in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, UBS Group lowered CEVA from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $47.83.

Shares of CEVA (CEVA) opened at $43.75 on Monday. The stock has a market capitalization of $961.41, a PE ratio of 50.87, a price-to-earnings-growth ratio of 2.47 and a beta of 0.75. CEVA has a 12-month low of $32.25 and a 12-month high of $51.80.

In other CEVA news, EVP Issachar Ohana sold 1,965 shares of CEVA stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $50.10, for a total transaction of $98,446.50. Following the transaction, the executive vice president now owns 28,289 shares of the company’s stock, valued at $1,417,278.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eliyahu Ayalon sold 9,215 shares of CEVA stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $46.00, for a total value of $423,890.00. Following the transaction, the director now directly owns 11,586 shares in the company, valued at approximately $532,956. The disclosure for this sale can be found here. Insiders have sold a total of 67,682 shares of company stock worth $3,257,929 in the last three months. Corporate insiders own 3.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in CEVA by 2.4% during the second quarter. BlackRock Inc. now owns 2,591,984 shares of the semiconductor company’s stock worth $117,806,000 after buying an additional 59,642 shares during the period. Vanguard Group Inc. increased its position in CEVA by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,983,620 shares of the semiconductor company’s stock worth $90,155,000 after buying an additional 53,209 shares during the period. Lord Abbett & CO. LLC increased its position in CEVA by 61.0% during the second quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock worth $60,648,000 after buying an additional 505,443 shares during the period. Disciplined Growth Investors Inc. MN increased its position in CEVA by 3.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 640,978 shares of the semiconductor company’s stock worth $29,132,000 after buying an additional 23,564 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in CEVA by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 617,663 shares of the semiconductor company’s stock worth $26,436,000 after buying an additional 13,633 shares during the period. 86.45% of the stock is currently owned by institutional investors.

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CEVA Company Profile

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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