Zacks: Analysts Anticipate CEVA, Inc. (NASDAQ:CEVA) to Post $0.02 Earnings Per Share

Wall Street brokerages forecast that CEVA, Inc. (NASDAQ:CEVA) will report earnings of $0.02 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for CEVA’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.03. CEVA reported earnings per share of $0.04 during the same quarter last year, which would suggest a negative year-over-year growth rate of 50%. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, August 8th.

On average, analysts expect that CEVA will report full-year earnings of $0.34 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.42. For the next year, analysts anticipate that the firm will report earnings of $0.64 per share, with EPS estimates ranging from $0.45 to $0.85. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow CEVA.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). CEVA had a net margin of 0.59% and a return on equity of 0.88%. The business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $17.65 million. During the same quarter last year, the company posted $0.04 EPS. The firm’s revenue was down 3.4% on a year-over-year basis.

CEVA has been the topic of a number of research analyst reports. BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. Cowen reiterated a “hold” rating and set a $353.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Tuesday, May 7th. BNP Paribas reiterated a “neutral” rating on shares of CEVA in a research report on Wednesday, April 17th. Exane BNP Paribas cut CEVA from an “outperform” rating to a “neutral” rating in a research report on Wednesday, April 17th. Finally, Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Monday, July 8th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. CEVA presently has a consensus rating of “Buy” and an average target price of $31.67.

Hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC increased its position in shares of CEVA by 70.4% in the first quarter. Penserra Capital Management LLC now owns 3,000 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,239 shares during the period. Roubaix Capital LLC bought a new position in shares of CEVA in the first quarter worth $2,887,000. Dimensional Fund Advisors LP increased its position in shares of CEVA by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 724,329 shares of the semiconductor company’s stock worth $16,001,000 after purchasing an additional 13,401 shares during the period. Two Sigma Advisers LP increased its position in shares of CEVA by 6.3% in the fourth quarter. Two Sigma Advisers LP now owns 104,987 shares of the semiconductor company’s stock worth $2,319,000 after purchasing an additional 6,189 shares during the period. Finally, United Services Automobile Association increased its position in shares of CEVA by 16.9% in the fourth quarter. United Services Automobile Association now owns 27,667 shares of the semiconductor company’s stock worth $611,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 85.12% of the company’s stock.

CEVA traded up $0.12 during trading hours on Monday, reaching $25.41. The company’s stock had a trading volume of 80,389 shares, compared to its average volume of 91,801. CEVA has a 52 week low of $20.40 and a 52 week high of $32.90. The company’s 50-day simple moving average is $24.29. The firm has a market cap of $555.73 million, a price-to-earnings ratio of 281.00 and a beta of 1.64.

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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