$0.28 Earnings Per Share Expected for CEVA, Inc. (CEVA) This Quarter

Wall Street brokerages expect CEVA, Inc. (NASDAQ:CEVA) to report earnings per share of $0.28 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for CEVA’s earnings, with estimates ranging from $0.27 to $0.28. CEVA reported earnings per share of $0.24 in the same quarter last year, which would indicate a positive year over year growth rate of 16.7%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, November 1st.

According to Zacks, analysts expect that CEVA will report full-year earnings of $1.14 per share for the current year, with EPS estimates ranging from $1.12 to $1.15. For the next financial year, analysts anticipate that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.30 to $1.62. Zacks’ EPS calculations are an average based on a survey of research analysts that follow CEVA.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $20.57 million during the quarter, compared to analysts’ expectations of $19.66 million. CEVA had a net margin of 20.52% and a return on equity of 8.24%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share.

CEVA has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of CEVA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Canaccord Genuity restated a “buy” rating and set a $45.00 price target on shares of CEVA in a research report on Tuesday, July 11th. Zacks Investment Research downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Roth Capital boosted their price target on shares of CEVA from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $46.57.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. raised its holdings 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 in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of CEVA by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of CEVA by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 11,186 shares of the semiconductor company’s stock worth $508,000 after purchasing an additional 100 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of CEVA by 4.1% in the 1st quarter. First Trust Advisors LP now owns 6,539 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 258 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in shares of CEVA by 2.0% in the 2nd quarter. Texas Permanent School Fund now owns 15,683 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 86.72% of the company’s stock.

CEVA (NASDAQ CEVA) traded up 3.31% on Tuesday, reaching $46.80. 678,960 shares of the company traded hands. The company has a 50-day moving average price of $41.92 and a 200-day moving average price of $41.96. CEVA has a 12 month low of $28.15 and a 12 month high of $49.50. The company has a market capitalization of $1.03 billion, a P/E ratio of 61.90 and a beta of 0.71.

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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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