Zacks: Brokerages Anticipate CEVA, Inc. (NASDAQ:CEVA) Will Post Earnings of $0.20 Per Share

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Equities analysts expect that CEVA, Inc. (NASDAQ:CEVA) will post earnings per share of $0.20 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CEVA’s earnings. The highest EPS estimate is $0.23 and the lowest is $0.19. CEVA reported earnings of $0.23 per share in the same quarter last year, which would indicate a negative year over year growth rate of 13%. The firm is scheduled to report its next earnings results on Wednesday, February 12th.

According to Zacks, analysts expect that CEVA will report full year earnings of $0.49 per share for the current year, with EPS estimates ranging from $0.47 to $0.52. For the next year, analysts anticipate that the company will post earnings of $0.37 per share, with EPS estimates ranging from $0.20 to $0.62. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover CEVA.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.19. The company had revenue of $23.50 million during the quarter, compared to analyst estimates of $22.72 million. CEVA had a negative net margin of 0.91% and a positive return on equity of 0.94%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share.

CEVA has been the subject of a number of recent research reports. Northland Securities reiterated a “hold” rating and issued a $28.00 target price on shares of CEVA in a report on Thursday, August 8th. ValuEngine downgraded shares of CEVA from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Canaccord Genuity lifted their price target on shares of CEVA from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Cowen reaffirmed an “outperform” rating and set a $35.00 price target (up from $29.00) on shares of CEVA in a research report on Friday, August 9th. Finally, Zacks Investment Research downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.40.

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in shares of CEVA by 741.8% in the third quarter. Millennium Management LLC now owns 136,460 shares of the semiconductor company’s stock valued at $4,074,000 after purchasing an additional 120,250 shares during the period. Renaissance Technologies LLC raised its stake in shares of CEVA by 78.4% during the 2nd quarter. Renaissance Technologies LLC now owns 247,600 shares of the semiconductor company’s stock worth $6,029,000 after buying an additional 108,800 shares during the period. Nuveen Asset Management LLC purchased a new position in CEVA during the second quarter valued at $2,157,000. D. E. Shaw & Co. Inc. grew its holdings in shares of CEVA by 67.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 217,036 shares of the semiconductor company’s stock worth $5,285,000 after buying an additional 87,177 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of CEVA by 259.0% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 97,796 shares of the semiconductor company’s stock worth $9,897,000 after purchasing an additional 70,556 shares during the last quarter. 82.90% of the stock is currently owned by institutional investors.

CEVA stock traded up $0.46 during mid-day trading on Friday, reaching $26.19. 5,452 shares of the company were exchanged, compared to its average volume of 131,554. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.80 and a current ratio of 6.80. The firm has a market cap of $565.80 million, a P/E ratio of 239.36, a PEG ratio of 129.60 and a beta of 1.45. The business has a fifty day moving average of $27.23 and a 200 day moving average of $27.30. CEVA has a 12-month low of $20.40 and a 12-month high of $33.16.

About CEVA

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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