CEVA, Inc. (CEVA) to Post Q2 2018 Earnings of $0.10 Per Share, Oppenheimer Forecasts

CEVA, Inc. (NASDAQ:CEVA) – Equities researchers at Oppenheimer issued their Q2 2018 earnings estimates for shares of CEVA in a note issued to investors on Wednesday. Oppenheimer analyst A. Uerkwitz expects that the semiconductor company will post earnings per share of $0.10 for the quarter. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for CEVA’s Q3 2018 earnings at $0.19 EPS.

CEVA (NASDAQ:CEVA) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $21.60 million during the quarter, compared to the consensus estimate of $21.17 million. CEVA had a return on equity of 7.82% and a net margin of 19.46%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share.

Several other brokerages also recently commented on CEVA. UBS Group downgraded CEVA from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. Canaccord Genuity boosted their target price on CEVA from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research downgraded CEVA from a “hold” rating to a “sell” rating in a research note on Monday, November 6th. BidaskClub downgraded CEVA from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Barclays lowered their target price on CEVA from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $48.14.

Shares of CEVA (CEVA) traded up $0.70 during midday trading on Friday, reaching $35.70. The company’s stock had a trading volume of 24,618 shares, compared to its average volume of 249,924. The firm has a market capitalization of $792.20, a P/E ratio of 47.30, a price-to-earnings-growth ratio of 2.08 and a beta of 0.72. CEVA has a 12-month low of $32.80 and a 12-month high of $51.80.

Several institutional investors have recently added to or reduced their stakes in CEVA. Schwab Charles Investment Management Inc. increased its stake in shares of CEVA by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 93,583 shares of the semiconductor company’s stock valued at $4,254,000 after buying an additional 4,860 shares during the period. Alliancebernstein L.P. increased its stake in shares of CEVA by 8.8% in the second quarter. Alliancebernstein L.P. now owns 24,650 shares of the semiconductor company’s stock valued at $1,120,000 after buying an additional 2,000 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of CEVA by 13.8% in the second quarter. TIAA CREF Investment Management LLC now owns 67,317 shares of the semiconductor company’s stock valued at $3,060,000 after buying an additional 8,176 shares during the period. Nationwide Fund Advisors increased its stake in shares of CEVA by 7.4% in the second quarter. Nationwide Fund Advisors now owns 12,246 shares of the semiconductor company’s stock valued at $557,000 after buying an additional 847 shares during the period. Finally, BlackRock Inc. increased its stake in shares of CEVA by 2.4% in the second quarter. BlackRock Inc. now owns 2,591,984 shares of the semiconductor company’s stock valued at $117,806,000 after buying an additional 59,642 shares during the period. 86.73% of the stock is owned by institutional investors.

In other news, Director Eliyahu Ayalon sold 9,215 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $46.00, for a total value of $423,890.00. Following the completion of the transaction, the director now owns 11,586 shares of the company’s stock, valued at $532,956. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sven Christer Nilsson sold 27,285 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $47.50, for a total value of $1,296,037.50. Following the completion of the transaction, the director now directly owns 28,282 shares of the company’s stock, valued at approximately $1,343,395. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,682 shares of company stock valued at $3,257,929. Insiders own 3.90% of the company’s stock.

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About CEVA

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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