Brokers Offer Predictions for Ceva Inc.’s Q3 2016 Earnings (CEVA)
Ceva Inc. (NASDAQ:CEVA) – Stock analysts at Roth Capital issued their Q3 2016 earnings per share (EPS) estimates for shares of Ceva in a research report issued to clients and investors on Wednesday. Roth Capital analyst S. Desilva expects that the brokerage will post earnings of $0.14 per share for the quarter. Roth Capital has a “Buy” rating and a $40.00 price objective on the stock. Roth Capital also issued estimates for Ceva’s Q4 2016 earnings at $0.11 EPS and FY2016 earnings at $0.48 EPS.
Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The business earned $17.10 million during the quarter, compared to the consensus estimate of $17.02 million. Ceva had a return on equity of 5.87% and a net margin of 15.36%. The company’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS.
Several other brokerages also recently commented on CEVA. Benchmark Co. set a $36.00 price objective on shares of Ceva and gave the company a “buy” rating in a research note on Wednesday, September 28th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $37.00 price objective (up from $32.00) on shares of Ceva in a research note on Friday, August 5th. Wunderlich increased their price target on shares of Ceva from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th. Finally, Zacks Investment Research raised shares of Ceva from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Ceva has an average rating of “Buy” and an average price target of $32.20.
Ceva (NASDAQ:CEVA) opened at 34.98 on Monday. The firm has a market cap of $733.18 million, a P/E ratio of 72.88 and a beta of 0.97. The firm’s 50-day moving average price is $32.49 and its 200-day moving average price is $27.75. Ceva has a 1-year low of $17.11 and a 1-year high of $36.81.
A number of large investors have recently made changes to their positions in CEVA. Mason Street Advisors LLC acquired a new stake in shares of Ceva during the second quarter worth $109,000. BNP Paribas Arbitrage SA boosted its stake in Ceva by 107.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,350 shares of the company’s stock worth $173,000 after buying an additional 3,283 shares during the last quarter. Arizona State Retirement System boosted its stake in Ceva by 5.0% in the first quarter. Arizona State Retirement System now owns 10,486 shares of the company’s stock worth $236,000 after buying an additional 500 shares during the last quarter. KBC Group NV boosted its stake in Ceva by 366.4% in the second quarter. KBC Group NV now owns 8,768 shares of the company’s stock worth $238,000 after buying an additional 6,888 shares during the last quarter. Finally, Capstone Asset Management Co. purchased a new stake in Ceva during the second quarter worth approximately $250,000. Institutional investors and hedge funds own 87.67% of the company’s stock.
In other Ceva news, Director Bruce Mann sold 1,796 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $31.85, for a total value of $57,202.60. Following the sale, the director now owns 9,678 shares in the company, valued at $308,244.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Senvest Management, Llc sold 73,500 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $29.65, for a total transaction of $2,179,275.00. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.
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).
Receive News & Ratings for Ceva Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceva Inc. and related companies with MarketBeat.com's FREE daily email newsletter.