Analysts Expect CEVA, Inc. (CEVA) Will Post Quarterly Sales of $19.58 Million

Brokerages predict that CEVA, Inc. (NASDAQ:CEVA) will announce sales of $19.58 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for CEVA’s earnings, with the lowest sales estimate coming in at $19.22 million and the highest estimate coming in at $19.90 million. CEVA reported sales of $17.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.5%. The company is expected to announce its next quarterly earnings report on Wednesday, August 2nd.

On average, analysts expect that CEVA will report full-year sales of $19.58 million for the current fiscal year, with estimates ranging from $82.58 million to $83.34 million. For the next fiscal year, analysts anticipate that the business will report sales of $93.99 million per share, with estimates ranging from $92.00 million to $95.95 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow CEVA.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.09. CEVA had a return on equity of 7.99% and a net margin of 19.90%. The business had revenue of $21.30 million during the quarter, compared to the consensus estimate of $20.98 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year.

CEVA has been the subject of a number of recent analyst reports. Benchmark Co. boosted their price objective on CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Canaccord Genuity boosted their price objective on CEVA from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Wunderlich restated a “buy” rating and issued a $40.00 price objective on shares of CEVA in a research report on Monday, March 27th. Zacks Investment Research upgraded CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Finally, Oppenheimer Holdings, Inc. boosted their price objective on CEVA from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $41.14.

In related news, EVP Issachar Ohana sold 5,361 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $41.84, for a total transaction of $224,304.24. Following the completion of the sale, the executive vice president now directly owns 35,822 shares in the company, valued at $1,498,792.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gideon Wertheizer sold 30,332 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $42.50, for a total value of $1,289,110.00. Following the sale, the chief executive officer now owns 85,388 shares of the company’s stock, valued at $3,628,990. The disclosure for this sale can be found here. Insiders have sold 148,722 shares of company stock valued at $6,346,768 over the last quarter. 3.90% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of CEVA. Goldman Sachs Group Inc. boosted its stake in shares of CEVA by 62.1% in the first quarter. Goldman Sachs Group Inc. now owns 102,955 shares of the semiconductor company’s stock valued at $3,655,000 after buying an additional 39,449 shares during the last quarter. State Street Corp boosted its stake in shares of CEVA by 11.6% in the first quarter. State Street Corp now owns 573,784 shares of the semiconductor company’s stock valued at $20,373,000 after buying an additional 59,831 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of CEVA by 70.6% in the first quarter. Bank of America Corp DE now owns 38,781 shares of the semiconductor company’s stock valued at $1,377,000 after buying an additional 16,052 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of CEVA during the first quarter valued at approximately $888,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of CEVA by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 88,723 shares of the semiconductor company’s stock valued at $3,150,000 after buying an additional 4,782 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

CEVA (NASDAQ:CEVA) traded up 0.55% on Friday, reaching $45.45. The company’s stock had a trading volume of 262,603 shares. The company has a market capitalization of $979.58 million, a price-to-earnings ratio of 64.19 and a beta of 0.62. CEVA has a 12-month low of $24.55 and a 12-month high of $48.67. The firm has a 50-day moving average of $42.69 and a 200 day moving average of $36.37.

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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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CEVA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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