Equities analysts predict that CEVA, Inc. (NASDAQ:CEVA) will post sales of $24.48 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CEVA’s earnings, with the lowest sales estimate coming in at $23.90 million and the highest estimate coming in at $25.53 million. CEVA posted sales of $21.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.4%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, February 18th.
According to Zacks, analysts expect that CEVA will report full-year sales of $83.29 million for the current financial year, with estimates ranging from $82.70 million to $84.37 million. For the next financial year, analysts expect that the business will post sales of $84.59 million, with estimates ranging from $81.00 million to $86.78 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover CEVA.
CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.19. The firm had revenue of $23.50 million during the quarter, compared to analysts’ expectations of $22.72 million. CEVA had a negative net margin of 0.91% and a positive return on equity of 0.94%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share.
A number of analysts have recently issued reports on the stock. BidaskClub cut shares of CEVA from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 7th. Zacks Investment Research raised shares of CEVA from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, January 14th. Finally, ValuEngine raised shares of CEVA from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. CEVA currently has a consensus rating of “Hold” and an average target price of $31.40.
A number of institutional investors and hedge funds have recently bought and sold shares of CEVA. Comerica Bank lifted its position in CEVA by 2.0% during the third quarter. Comerica Bank now owns 20,669 shares of the semiconductor company’s stock valued at $584,000 after purchasing an additional 398 shares during the last quarter. Meadow Creek Investment Management LLC lifted its position in CEVA by 10.4% during the second quarter. Meadow Creek Investment Management LLC now owns 6,216 shares of the semiconductor company’s stock valued at $151,000 after purchasing an additional 588 shares during the last quarter. Glen Harbor Capital Management LLC lifted its position in CEVA by 10.4% during the second quarter. Glen Harbor Capital Management LLC now owns 7,548 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 714 shares during the last quarter. Invesco Ltd. lifted its position in CEVA by 1.5% during the second quarter. Invesco Ltd. now owns 80,535 shares of the semiconductor company’s stock valued at $1,961,000 after purchasing an additional 1,179 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in CEVA by 2.2% during the third quarter. Rhumbline Advisers now owns 65,969 shares of the semiconductor company’s stock valued at $1,970,000 after purchasing an additional 1,443 shares during the last quarter. 83.19% of the stock is owned by institutional investors.
Shares of NASDAQ CEVA traded up $0.35 during midday trading on Wednesday, reaching $29.28. The stock had a trading volume of 79,114 shares, compared to its average volume of 69,762. The stock has a 50-day moving average of $27.27 and a 200-day moving average of $28.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.80 and a current ratio of 6.80. The company has a market capitalization of $643.87 million, a price-to-earnings ratio of -732.00 and a beta of 1.46. CEVA has a 12-month low of $21.69 and a 12-month high of $33.16.
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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