$0.28 Earnings Per Share Expected for CEVA, Inc. (CEVA) This Quarter
Wall Street brokerages expect CEVA, Inc. (NASDAQ:CEVA) to report earnings per share of $0.28 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for CEVA’s earnings, with estimates ranging from $0.27 to $0.28. CEVA reported earnings per share of $0.24 in the same quarter last year, which would indicate a positive year over year growth rate of 16.7%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, November 1st.
According to Zacks, analysts expect that CEVA will report full-year earnings of $1.14 per share for the current year, with EPS estimates ranging from $1.12 to $1.15. For the next financial year, analysts anticipate that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.30 to $1.62. Zacks’ EPS calculations are an average based on a survey of research analysts that follow CEVA.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $20.57 million during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.21 earnings per share.
CEVA has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of CEVA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Canaccord Genuity restated a “buy” rating and set a $45.00 price target on shares of CEVA in a research report on Tuesday, July 11th. Zacks Investment Research downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Roth Capital boosted their price target on shares of CEVA from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $46.57.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. raised its holdings in shares of CEVA by 2.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,831 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 62 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of CEVA by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of CEVA by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 11,186 shares of the semiconductor company’s stock worth $508,000 after purchasing an additional 100 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of CEVA by 4.1% in the 1st quarter. First Trust Advisors LP now owns 6,539 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 258 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in shares of CEVA by 2.0% in the 2nd quarter. Texas Permanent School Fund now owns 15,683 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 86.72% of the company’s stock.
CEVA (NASDAQ CEVA) traded up 3.31% on Tuesday, reaching $46.80. 678,960 shares of the company traded hands. The company has a 50-day moving average price of $41.92 and a 200-day moving average price of $41.96. CEVA has a 12 month low of $28.15 and a 12 month high of $49.50. The company has a market capitalization of $1.03 billion, a P/E ratio of 61.90 and a beta of 0.71.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/10/13/0-28-earnings-per-share-expected-for-ceva-inc-ceva-this-quarter.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for CEVA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEVA Inc. and related stocks with our FREE daily email newsletter.