$21.02 Million in Sales Expected for CEVA, Inc. (CEVA) This Quarter

Equities analysts expect that CEVA, Inc. (NASDAQ:CEVA) will announce sales of $21.02 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for CEVA’s earnings. The lowest sales estimate is $21.00 million and the highest is $21.04 million. CEVA posted sales of $21.20 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.8%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that CEVA will report full year sales of $21.02 million for the current fiscal year, with estimates ranging from $86.90 million to $86.94 million. For the next fiscal year, analysts anticipate that the company will report sales of $97.22 million per share, with estimates ranging from $92.50 million to $100.83 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for CEVA.

CEVA (NASDAQ:CEVA) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. CEVA had a net margin of 21.89% and a return on equity of 9.02%. The firm had revenue of $24.00 million for the quarter, compared to the consensus estimate of $21.56 million. During the same period in the previous year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 34.1% on a year-over-year basis.

Several brokerages recently commented on CEVA. Zacks Investment Research downgraded shares of CEVA from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Canaccord Genuity upped their price target on shares of CEVA from $53.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. CEVA presently has an average rating of “Buy” and an average price target of $46.71.

In other CEVA news, Director Eliyahu Ayalon sold 9,215 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $46.00, for a total value of $423,890.00. Following the transaction, the director now directly owns 11,586 shares in the company, valued at approximately $532,956. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sven Christer Nilsson sold 27,285 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $47.50, for a total transaction of $1,296,037.50. Following the completion of the sale, 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. Insiders have sold a total of 67,682 shares of company stock worth $3,257,929 over the last quarter. 3.90% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Pinebridge Investments L.P. lifted its position in shares of CEVA by 2.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,831 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 62 shares during the period. Victory Capital Management Inc. lifted its position in CEVA by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,821 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 572 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in CEVA during the second quarter valued at approximately $211,000. Cubist Systematic Strategies LLC purchased a new stake in CEVA during the third quarter valued at approximately $213,000. Finally, Granite Point Capital Management L.P. purchased a new stake in CEVA during the second quarter valued at approximately $227,000. 86.46% of the stock is owned by hedge funds and other institutional investors.

CEVA (NASDAQ CEVA) remained flat at $$45.75 during trading on Tuesday. The stock had a trading volume of 100,600 shares, compared to its average volume of 166,026. CEVA has a twelve month low of $32.00 and a twelve month high of $51.80. The stock has a market capitalization of $1,005.35, a P/E ratio of 53.20, a P/E/G ratio of 2.97 and a beta of 0.74.

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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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