CEVA (NASDAQ:CEVA) Issues Earnings Results, Beats Estimates By $0.19 EPS

CEVA (NASDAQ:CEVA) announced its quarterly earnings data on Thursday. The semiconductor company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.19, Briefing.com reports. CEVA had a net margin of 1.33% and a return on equity of 1.12%. The company had revenue of $23.50 million during the quarter, compared to analyst estimates of $22.72 million. During the same period in the previous year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.

CEVA traded down $1.96 during mid-day trading on Friday, reaching $26.79. 245,000 shares of the company traded hands, compared to its average volume of 123,808. The company has a quick ratio of 8.46, a current ratio of 8.46 and a debt-to-equity ratio of 0.03. CEVA has a 52-week low of $20.40 and a 52-week high of $33.16. The company’s fifty day moving average price is $28.79 and its 200-day moving average price is $27.05. The stock has a market capitalization of $619.63 million, a P/E ratio of 243.55 and a beta of 1.49.

In related news, Director Maria Marced sold 2,064 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $32.07, for a total value of $66,192.48. Following the completion of the transaction, the director now owns 7,121 shares of the company’s stock, valued at approximately $228,370.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by company insiders.

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A number of equities research analysts have weighed in on CEVA shares. Canaccord Genuity boosted their target price on shares of CEVA from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Northland Securities reiterated a “hold” rating and set a $28.00 target price on shares of CEVA in a research note on Thursday, August 8th. Zacks Investment Research upgraded shares of CEVA from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Friday. ValuEngine lowered shares of CEVA from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub lowered shares of CEVA from a “sell” rating to a “strong sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.40.

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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Earnings History for CEVA (NASDAQ:CEVA)

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