Roth Capital Weighs in on CEVA, Inc.’s FY2016 Earnings (CEVA)

CEVA, Inc. (NASDAQ:CEVA) – Equities researchers at Roth Capital lifted their FY2016 EPS estimates for CEVA in a research report issued on Monday. Roth Capital analyst S. Desilva now forecasts that the brokerage will post earnings of $0.65 per share for the year, up from their prior forecast of $0.58. Roth Capital has a “Buy” rating and a $40.00 price target on the stock. Roth Capital also issued estimates for CEVA’s Q4 2016 earnings at $0.25 EPS.

CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, November 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. CEVA had a net margin of 15.11% and a return on equity of 5.75%. The company had revenue of $17.85 million for the quarter, compared to the consensus estimate of $17.67 million. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue was up 9.9% compared to the same quarter last year.

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A number of other research analysts have also recently commented on the company. Benchmark Co. set a $36.00 price target on CEVA and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Zacks Investment Research upgraded CEVA from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Tuesday, November 8th. Finally, William Blair restated a “market perform” rating on shares of CEVA in a research report on Thursday, November 3rd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $32.60.

CEVA (NASDAQ:CEVA) traded down 0.72% on Wednesday, reaching $34.55. 45,849 shares of the company’s stock were exchanged. CEVA has a 52 week low of $17.10 and a 52 week high of $36.81. The stock’s 50 day moving average is $32.54 and its 200 day moving average is $31.22. The company has a market cap of $733.50 million, a price-to-earnings ratio of 71.98 and a beta of 0.72.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted its stake in CEVA by 3.0% in the second quarter. BlackRock Advisors LLC now owns 10,150 shares of the company’s stock valued at $276,000 after buying an additional 296 shares during the period. Convergence Investment Partners LLC purchased a new stake in CEVA during the second quarter valued at $1,716,000. Vanguard Group Inc. boosted its stake in CEVA by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,689,514 shares of the company’s stock valued at $45,905,000 after buying an additional 39,815 shares during the period. Principal Financial Group Inc. boosted its stake in CEVA by 2.7% in the second quarter. Principal Financial Group Inc. now owns 143,833 shares of the company’s stock valued at $3,908,000 after buying an additional 3,828 shares during the period. Finally, Prudential Financial Inc. boosted its stake in CEVA by 1.8% in the second quarter. Prudential Financial Inc. now owns 49,423 shares of the company’s stock valued at $1,343,000 after buying an additional 880 shares during the period. Institutional investors own 88.14% of the company’s stock.

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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).

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