$22.39 Million in Sales Expected for CEVA, Inc. (NASDAQ:CEVA) This Quarter

Wall Street analysts expect CEVA, Inc. (NASDAQ:CEVA) to post $22.39 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for CEVA’s earnings, with the lowest sales estimate coming in at $21.68 million and the highest estimate coming in at $22.80 million. CEVA reported sales of $23.47 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.6%. The firm is expected to report its next earnings results on Thursday, November 5th.

According to Zacks, analysts expect that CEVA will report full year sales of $93.72 million for the current year, with estimates ranging from $93.20 million to $94.55 million. For the next fiscal year, analysts forecast that the firm will post sales of $98.41 million, with estimates ranging from $92.33 million to $101.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CEVA.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.08. The company had revenue of $23.60 million during the quarter, compared to analysts’ expectations of $20.78 million. CEVA had a return on equity of 2.20% and a net margin of 1.58%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share.

Several equities research analysts recently commented on CEVA shares. Northland Securities raised CEVA from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $37.00 to $48.00 in a research note on Monday, September 21st. Roth Capital raised their target price on CEVA from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Cowen raised their target price on CEVA from $45.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Zacks Investment Research cut CEVA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, BidaskClub raised CEVA from a “hold” rating to a “buy” rating in a research note on Thursday, September 24th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $45.67.

Shares of CEVA stock traded up $0.58 on Tuesday, hitting $39.65. The company had a trading volume of 72,760 shares, compared to its average volume of 143,999. The firm has a market cap of $878.60 million, a P/E ratio of 566.43 and a beta of 1.42. The stock’s 50-day moving average is $40.17 and its two-hundred day moving average is $34.45. CEVA has a twelve month low of $20.45 and a twelve month high of $46.50.

In other news, Director Peter Mcmanamon sold 57,068 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $43.00, for a total value of $2,453,924.00. Following the transaction, the director now owns 17,254 shares in the company, valued at $741,922. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gideon Wertheizer sold 35,385 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $42.74, for a total value of $1,512,354.90. Following the completion of the transaction, the chief executive officer now owns 113,250 shares in the company, valued at approximately $4,840,305. The disclosure for this sale can be found here. Insiders sold 94,791 shares of company stock worth $4,066,486 in the last 90 days. Corporate insiders own 3.81% of the company’s stock.

A number of institutional investors have recently modified their holdings of CEVA. SG Americas Securities LLC bought a new stake in CEVA during the first quarter worth $193,000. Aperio Group LLC increased its position in CEVA by 4.5% in the first quarter. Aperio Group LLC now owns 17,774 shares of the semiconductor company’s stock worth $443,000 after buying an additional 760 shares during the last quarter. Rhumbline Advisers grew its position in shares of CEVA by 1.1% in the first quarter. Rhumbline Advisers now owns 70,573 shares of the semiconductor company’s stock valued at $1,759,000 after purchasing an additional 779 shares in the last quarter. Swiss National Bank grew its position in shares of CEVA by 1.7% in the first quarter. Swiss National Bank now owns 42,700 shares of the semiconductor company’s stock valued at $1,065,000 after purchasing an additional 700 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of CEVA in the first quarter valued at $233,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

CEVA Company Profile

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 signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.

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