Analysts expect CEVA, Inc. (NASDAQ:CEVA) to report $0.05 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CEVA’s earnings. The lowest EPS estimate is ($0.05) and the highest is $0.09. CEVA posted earnings per share of $0.11 in the same quarter last year, which would indicate a negative year-over-year growth rate of 54.5%. The business is scheduled to announce its next quarterly earnings report on Monday, May 10th.
According to Zacks, analysts expect that CEVA will report full-year earnings of $0.60 per share for the current fiscal year, with EPS estimates ranging from $0.60 to $0.61. For the next financial year, analysts anticipate that the company will report earnings of $0.90 per share, with EPS estimates ranging from $0.75 to $0.95. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover CEVA.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Monday, February 15th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. CEVA had a net margin of 0.05% and a return on equity of 1.26%. The business had revenue of $28.15 million for the quarter, compared to analysts’ expectations of $23.13 million. During the same period in the previous year, the company posted $0.30 EPS.
Several equities analysts have recently commented on the stock. Roth Capital boosted their price target on shares of CEVA from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, February 16th. Northland Securities cut shares of CEVA from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $51.00 to $78.00 in a report on Wednesday, February 17th. They noted that the move was a valuation call. Oppenheimer upgraded shares of CEVA from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Thursday, January 7th. Barclays upped their price objective on shares of CEVA from $42.00 to $64.00 and gave the stock an “equal weight” rating in a report on Thursday, February 18th. Finally, Zacks Investment Research cut shares of CEVA from a “buy” rating to a “hold” rating in a report on Monday, February 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $72.67.
Shares of CEVA stock traded up $0.79 on Thursday, hitting $58.24. 111,368 shares of the company traded hands, compared to its average volume of 364,968. The company has a 50-day moving average price of $59.40 and a 200 day moving average price of $49.60. CEVA has a 12-month low of $26.15 and a 12-month high of $83.95. The company has a market cap of $1.33 billion, a PE ratio of 5,834.00, a PEG ratio of 23.97 and a beta of 1.18.
In other CEVA news, CEO Gideon Wertheizer sold 40,000 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $70.63, for a total transaction of $2,825,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Issachar Ohana sold 5,901 shares of the business’s stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $67.66, for a total transaction of $399,261.66. Following the transaction, the executive vice president now directly owns 82,945 shares of the company’s stock, valued at approximately $5,612,058.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,343 shares of company stock valued at $7,392,417. Company insiders own 3.81% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CEVA. California Public Employees Retirement System lifted its position in CEVA by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 50,126 shares of the semiconductor company’s stock worth $1,973,000 after acquiring an additional 1,500 shares during the last quarter. Aperio Group LLC raised its position in shares of CEVA by 3.6% during the third quarter. Aperio Group LLC now owns 18,613 shares of the semiconductor company’s stock valued at $733,000 after buying an additional 642 shares during the last quarter. Swiss National Bank raised its position in shares of CEVA by 1.6% during the third quarter. Swiss National Bank now owns 49,900 shares of the semiconductor company’s stock valued at $1,965,000 after buying an additional 800 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of CEVA during the third quarter valued at about $218,000. Finally, US Bancorp DE raised its position in shares of CEVA by 77.8% during the third quarter. US Bancorp DE now owns 1,300 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 569 shares during the last quarter. 85.90% of the stock is owned by hedge funds and other institutional investors.
CEVA, Inc operates as a licensor of wireless connectivity and smart sensing platforms to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI).
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