Analysts expect CEVA, Inc. (NASDAQ:CEVA) to announce sales of $22.59 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for CEVA’s earnings, with the lowest sales estimate coming in at $22.50 million and the highest estimate coming in at $22.78 million. CEVA reported sales of $21.41 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The business is expected to report its next earnings report on Thursday, November 14th.

On average, analysts expect that CEVA will report full year sales of $81.92 million for the current financial year, with estimates ranging from $81.16 million to $82.60 million. For the next year, analysts expect that the company will report sales of $91.64 million, with estimates ranging from $85.12 million to $99.30 million. Zacks’ sales averages are an average based on a survey of analysts that follow CEVA.

CEVA (NASDAQ:CEVA) last announced its earnings results on Thursday, August 8th. The semiconductor company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.14. The firm had revenue of $18.40 million for the quarter, compared to the consensus estimate of $17.41 million. CEVA had a return on equity of 1.12% and a net margin of 1.33%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS.

A number of equities analysts recently commented on the company. Exane BNP Paribas cut CEVA from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 17th. Canaccord Genuity lifted their price target on CEVA from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Northland Securities reiterated a “hold” rating and set a $28.00 price target on shares of CEVA in a report on Thursday, August 8th. Cowen reiterated an “outperform” rating and set a $35.00 price target (up previously from $29.00) on shares of CEVA in a report on Friday, August 9th. Finally, BNP Paribas reiterated a “neutral” rating on shares of CEVA in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. CEVA presently has an average rating of “Buy” and a consensus price target of $32.20.

CEVA stock traded down $0.60 during mid-day trading on Thursday, hitting $30.89. 105,660 shares of the company’s stock traded hands, compared to its average volume of 133,508. The firm has a 50 day moving average price of $26.71 and a 200 day moving average price of $26.19. The company has a market cap of $683.55 million, a PE ratio of 280.82 and a beta of 1.65. CEVA has a one year low of $20.40 and a one year high of $32.23.

Several institutional investors have recently made changes to their positions in CEVA. Quantamental Technologies LLC purchased a new position in shares of CEVA during the first quarter valued at approximately $38,000. US Bancorp DE increased its holdings in CEVA by 976.6% during the 2nd quarter. US Bancorp DE now owns 1,658 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 1,504 shares during the last quarter. Bank of Montreal Can grew its position in shares of CEVA by 324.6% in the 2nd quarter. Bank of Montreal Can now owns 2,412 shares of the semiconductor company’s stock worth $58,000 after acquiring an additional 1,844 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of CEVA by 70.4% in the 1st quarter. Penserra Capital Management LLC now owns 3,000 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,239 shares in the last quarter. Finally, Tyers Asset Management LLC grew its position in shares of CEVA by 10.4% in the 2nd quarter. Tyers Asset Management LLC now owns 3,552 shares of the semiconductor company’s stock worth $87,000 after acquiring an additional 336 shares in the last quarter. 84.37% of the stock is currently owned by institutional investors.

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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