CEVA, Inc. (CEVA) Expected to Announce Earnings of $0.11 Per Share

Brokerages expect CEVA, Inc. (NASDAQ:CEVA) to announce $0.11 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for CEVA’s earnings. The lowest EPS estimate is $0.09 and the highest is $0.14. CEVA reported earnings per share of $0.28 in the same quarter last year, which would suggest a negative year-over-year growth rate of 60.7%. The company is expected to issue its next earnings report on Thursday, August 2nd.

On average, analysts expect that CEVA will report full-year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.77 to $0.95. For the next fiscal year, analysts anticipate that the business will report earnings of $1.20 per share, with EPS estimates ranging from $0.99 to $1.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow CEVA.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, May 9th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). CEVA had a net margin of 12.82% and a return on equity of 4.97%. The business had revenue of $17.57 million during the quarter, compared to analyst estimates of $18.83 million. During the same period in the previous year, the business posted $0.28 EPS. The business’s revenue for the quarter was down 17.5% compared to the same quarter last year.

A number of equities analysts have issued reports on CEVA shares. Roth Capital cut their price objective on shares of CEVA to $44.00 and set a “buy” rating on the stock in a report on Wednesday, May 9th. BidaskClub raised shares of CEVA from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. ValuEngine raised shares of CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, May 15th. Barclays set a $40.00 price target on shares of CEVA and gave the stock a “buy” rating in a report on Thursday, May 10th. Finally, Cowen assumed coverage on shares of CEVA in a report on Thursday, May 17th. They issued an “outperform” rating and a $43.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $43.14.

In other news, EVP Issachar Ohana sold 1,500 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $34.00, for a total transaction of $51,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of CEVA by 2.9% in the first quarter. BlackRock Inc. now owns 2,875,844 shares of the semiconductor company’s stock worth $104,107,000 after purchasing an additional 82,172 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of CEVA by 55.3% during the first quarter. Asset Management One Co. Ltd. now owns 739,054 shares of the semiconductor company’s stock valued at $26,754,000 after acquiring an additional 263,252 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in CEVA by 2,352.4% in the first quarter. Summit Trail Advisors LLC now owns 717,944 shares of the semiconductor company’s stock worth $718,000 after purchasing an additional 688,669 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in CEVA by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 633,891 shares of the semiconductor company’s stock worth $22,947,000 after purchasing an additional 48,157 shares in the last quarter. Finally, Ranger Investment Management L.P. raised its holdings in CEVA by 7.7% in the fourth quarter. Ranger Investment Management L.P. now owns 602,256 shares of the semiconductor company’s stock worth $27,794,000 after purchasing an additional 42,812 shares in the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

CEVA opened at $30.20 on Friday, according to Marketbeat Ratings. CEVA has a 12-month low of $27.35 and a 12-month high of $51.80. The firm has a market capitalization of $672.19 million, a P/E ratio of 37.75, a price-to-earnings-growth ratio of 4.73 and a beta of 0.89.

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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