Wall Street analysts forecast that CEVA, Inc. (NASDAQ:CEVA) will post earnings of $0.28 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 $0.27 and the highest estimate coming in at $0.28. CEVA posted earnings per share of $0.24 during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The business is expected to report its next quarterly earnings report on Wednesday, November 1st.

On average, analysts expect that CEVA will report full year earnings of $1.14 per share for the current fiscal year, with EPS estimates ranging from $1.12 to $1.15. For the next financial year, analysts anticipate that the firm will post earnings of $1.42 per share, with EPS estimates ranging from $1.30 to $1.62. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for CEVA.

CEVA (NASDAQ:CEVA) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. CEVA had a net margin of 20.52% and a return on equity of 8.24%. The business had revenue of $20.57 million for the quarter, compared to analyst estimates of $19.66 million. During the same quarter last year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year.

A number of equities analysts have recently weighed in on the stock. BidaskClub cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Canaccord Genuity upped their price target on shares of CEVA from $45.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Roth Capital upped their price target on shares of CEVA from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Benchmark Co. upped their price target on shares of CEVA from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $44.71.

Shares of CEVA (NASDAQ:CEVA) traded down 0.48% during mid-day trading on Thursday, hitting $41.65. 79,918 shares of the stock traded hands. The firm has a market cap of $914.80 million, a price-to-earnings ratio of 55.09 and a beta of 0.66. The firm’s 50 day moving average price is $41.79 and its 200 day moving average price is $41.05. CEVA has a 12-month low of $28.15 and a 12-month high of $48.67.

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In other CEVA news, Director Peter Mcmanamon sold 1,497 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $45.00, for a total transaction of $67,365.00. Following the sale, the director now directly owns 264,054 shares of the company’s stock, valued at approximately $11,882,430. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC boosted its stake in shares of CEVA by 61.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock worth $60,648,000 after purchasing an additional 505,443 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of CEVA by 3.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 640,978 shares of the semiconductor company’s stock worth $29,132,000 after purchasing an additional 23,564 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of CEVA during the 2nd quarter worth about $211,000. The Manufacturers Life Insurance Company boosted its stake in shares of CEVA by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,521 shares of the semiconductor company’s stock worth $751,000 after purchasing an additional 1,185 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of CEVA by 1.5% during the 2nd quarter. State Street Corp now owns 582,662 shares of the semiconductor company’s stock worth $26,484,000 after purchasing an additional 8,878 shares during the last quarter. 86.72% of the stock is currently owned by institutional investors.

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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