CEVA (NASDAQ:CEVA) posted its quarterly earnings data on Thursday. The semiconductor company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03, MarketWatch Earnings reports. CEVA had a return on equity of 2.43% and a net margin of 5.87%. The firm had revenue of $21.40 million for the quarter, compared to analysts’ expectations of $21.37 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s quarterly revenue was down 10.8% on a year-over-year basis.
NASDAQ CEVA opened at $26.69 on Friday. CEVA has a 12 month low of $23.01 and a 12 month high of $51.80. The company has a market capitalization of $561.36 million, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 18.20 and a beta of 1.38.
A number of research analysts have recently weighed in on the company. BidaskClub raised CEVA from a “strong sell” rating to a “sell” rating in a research report on Wednesday. ValuEngine raised CEVA from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Canaccord Genuity lifted their price objective on CEVA from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, October 16th. Zacks Investment Research raised CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Roth Capital lowered their price objective on CEVA from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. One equities 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 currently has a consensus rating of “Buy” and a consensus target price of $38.67.
A number of hedge funds and other institutional investors have recently bought and sold shares of CEVA. Piedmont Investment Advisors LLC purchased a new position in CEVA in the 2nd quarter worth approximately $156,000. SG Americas Securities LLC purchased a new position in CEVA in the 2nd quarter worth approximately $192,000. WINTON GROUP Ltd purchased a new stake in shares of CEVA during the 1st quarter worth approximately $203,000. GSA Capital Partners LLP purchased a new stake in shares of CEVA during the 2nd quarter worth approximately $221,000. Finally, BlueMountain Capital Management LLC raised its holdings in shares of CEVA by 93.6% during the 2nd quarter. BlueMountain Capital Management LLC now owns 8,689 shares of the semiconductor company’s stock worth $262,000 after acquiring an additional 4,201 shares in the last quarter. 87.08% of the stock is currently owned by institutional investors.
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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 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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