Zacks: Brokerages Anticipate CEVA, Inc. (NASDAQ:CEVA) to Announce $0.02 EPS

Wall Street brokerages predict that CEVA, Inc. (NASDAQ:CEVA) will announce earnings per share of $0.02 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CEVA’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at $0.01. CEVA reported earnings per share of $0.04 during the same quarter last year, which suggests a negative year over year growth rate of 50%. The firm is scheduled to issue its next 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 year, with EPS estimates ranging from $0.23 to $0.42. For the next financial year, analysts forecast that the business will report earnings of $0.64 per share, with EPS estimates ranging from $0.45 to $0.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for CEVA.

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

A number of research firms have recently issued reports on CEVA. Exane BNP Paribas cut CEVA from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 17th. BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 3rd. ValuEngine upgraded VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Cowen reiterated a “hold” rating and issued a $353.00 price objective on shares of Regeneron Pharmaceuticals in a report on Tuesday, May 7th. Finally, Northland Securities reiterated a “hold” rating and issued a $27.00 price objective on shares of CEVA in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. CEVA currently has an average rating of “Buy” and an average target price of $31.67.

Shares of CEVA traded up $0.12 during midday trading on Monday, reaching $25.41. The stock had a trading volume of 80,389 shares, compared to its average volume of 91,801. The business has a 50-day moving average price of $24.29. CEVA has a 12-month low of $20.40 and a 12-month high of $32.90. The firm has a market capitalization of $555.73 million, a P/E ratio of 281.00 and a beta of 1.64.

Hedge funds have recently modified their holdings of the stock. Quantamental Technologies LLC purchased a new stake in CEVA during the 1st quarter valued at about $38,000. Penserra Capital Management LLC boosted its holdings in CEVA by 70.4% during the 1st quarter. Penserra Capital Management LLC now owns 3,000 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,239 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in CEVA during the 4th quarter valued at about $138,000. Metropolitan Life Insurance Co. NY boosted its holdings in CEVA by 371.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,928 shares of the semiconductor company’s stock valued at $153,000 after acquiring an additional 5,460 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in CEVA by 18.7% during the 4th quarter. Van ECK Associates Corp now owns 8,100 shares of the semiconductor company’s stock valued at $179,000 after acquiring an additional 1,277 shares during the period. Institutional investors own 85.12% of the company’s stock.

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 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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