$22.33 Million in Sales Expected for CEVA, Inc. (CEVA) This Quarter

Brokerages predict that CEVA, Inc. (NASDAQ:CEVA) will report $22.33 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for CEVA’s earnings. The highest sales estimate is $22.99 million and the lowest is $22.00 million. CEVA posted sales of $21.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The firm is expected to issue its next earnings report on Tuesday, February 5th.

On average, analysts expect that CEVA will report full-year sales of $78.82 million for the current financial year, with estimates ranging from $78.50 million to $79.46 million. For the next year, analysts expect that the business will post sales of $86.46 million, with estimates ranging from $84.40 million to $89.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow CEVA.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Thursday, November 8th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. CEVA had a net margin of 1.84% and a return on equity of 1.08%. The firm had revenue of $21.40 million for the quarter, compared to the consensus estimate of $21.37 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was down 10.8% on a year-over-year basis.

CEVA has been the topic of a number of recent research reports. BidaskClub upgraded shares of CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Zacks Investment Research cut shares of CEVA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 15th. Canaccord Genuity increased their price target on shares of CEVA from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, October 16th. Finally, ValuEngine upgraded shares of CEVA from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $37.29.

Several institutional investors have recently modified their holdings of CEVA. Principal Financial Group Inc. grew its holdings in shares of CEVA by 4.0% in the first quarter. Principal Financial Group Inc. now owns 181,006 shares of the semiconductor company’s stock worth $6,552,000 after purchasing an additional 6,939 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of CEVA in the second quarter worth approximately $529,000. Piedmont Investment Advisors LLC bought a new position in shares of CEVA in the second quarter worth approximately $156,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of CEVA by 1,398.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 30,770 shares of the semiconductor company’s stock worth $929,000 after purchasing an additional 28,717 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in shares of CEVA by 10.9% in the second quarter. Rice Hall James & Associates LLC now owns 644,003 shares of the semiconductor company’s stock worth $19,449,000 after purchasing an additional 63,136 shares during the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

NASDAQ CEVA traded down $1.50 on Thursday, reaching $25.08. 103,992 shares of the company’s stock traded hands, compared to its average volume of 157,523. CEVA has a 12 month low of $23.01 and a 12 month high of $49.75. The stock has a market capitalization of $569.24 million, a P/E ratio of 31.35, a PEG ratio of 13.92 and a beta of 1.35.

About CEVA

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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