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.
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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