Zacks: Analysts Anticipate CEVA, Inc. (CEVA) Will Announce Earnings of $0.28 Per Share
Equities research analysts expect CEVA, Inc. (NASDAQ:CEVA) to announce $0.28 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for CEVA’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.27. CEVA posted earnings of $0.24 per share in the same quarter last year, which would suggest a positive year over year growth rate of 16.7%. The firm is scheduled to report its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that CEVA will report full-year earnings of $1.14 per share for the current financial year, with EPS estimates ranging from $1.12 to $1.15. For the next financial year, analysts forecast that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.30 to $1.62. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow CEVA.
CEVA (NASDAQ:CEVA) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $20.57 million for the quarter, compared to the consensus estimate of $19.66 million. CEVA had a net margin of 20.52% and a return on equity of 8.24%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share.
Several equities analysts have weighed in on CEVA shares. BidaskClub cut CEVA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Canaccord Genuity raised their target price on CEVA from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $42.00 target price (up from $37.00) on shares of CEVA in a research report on Friday, May 5th. Roth Capital raised their target price on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, Benchmark Co. raised their target price on CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.71.
Shares of CEVA (NASDAQ CEVA) traded up 0.37% during trading on Tuesday, reaching $40.70. 66,245 shares of the company were exchanged. CEVA has a one year low of $28.15 and a one year high of $48.67. The firm’s 50 day moving average price is $44.69 and its 200 day moving average price is $40.00. The company has a market capitalization of $893.93 million, a PE ratio of 53.55 and a beta of 0.63.
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In related news, CEO Gideon Wertheizer sold 898 shares of CEVA stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $42.25, for a total value of $37,940.50. Following the completion of the sale, the chief executive officer now owns 81,783 shares of the company’s stock, valued at approximately $3,455,331.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sven Christer Nilsson sold 9,172 shares of CEVA stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $42.38, for a total value of $388,709.36. Following the completion of the sale, the director now directly owns 24,132 shares of the company’s stock, valued at approximately $1,022,714.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,467 shares of company stock valued at $659,375. Insiders own 3.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. LS Investment Advisors LLC raised its stake in shares of CEVA by 313.4% in the first quarter. LS Investment Advisors LLC now owns 2,935 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 2,225 shares during the period. Pictet Asset Management Ltd. purchased a new stake in shares of CEVA during the first quarter valued at $15,238,000. Comerica Bank raised its stake in shares of CEVA by 4.3% in the first quarter. Comerica Bank now owns 23,440 shares of the semiconductor company’s stock valued at $860,000 after buying an additional 967 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of CEVA by 123.5% in the first quarter. BNP Paribas Arbitrage SA now owns 10,265 shares of the semiconductor company’s stock valued at $364,000 after buying an additional 5,672 shares during the period. Finally, Tygh Capital Management Inc. raised its stake in shares of CEVA by 55.8% in the first quarter. Tygh Capital Management Inc. now owns 90,220 shares of the semiconductor company’s stock valued at $3,203,000 after buying an additional 32,294 shares during the period. 90.16% of the stock is owned by institutional investors.
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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