CEVA (NASDAQ:CEVA) released its earnings results on Thursday. The semiconductor company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03, MarketWatch Earnings reports. The firm had revenue of $21.40 million for the quarter, compared to the consensus estimate of $21.37 million. CEVA had a return on equity of 2.43% and a net margin of 5.87%. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.
Shares of CEVA stock opened at $26.69 on Friday. CEVA has a twelve month low of $23.01 and a twelve month high of $51.80. The firm has a market capitalization of $561.36 million, a price-to-earnings ratio of 33.36, a PEG ratio of 18.20 and a beta of 1.38.
Several equities analysts have recently weighed in on the company. BidaskClub downgraded CEVA from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Zacks Investment Research downgraded CEVA from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Roth Capital cut their target price on CEVA from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Barclays cut their target price on CEVA from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 8th. Finally, Canaccord Genuity reissued a “buy” rating and set a $36.00 target price on shares of CEVA in a research report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. CEVA presently has a consensus rating of “Buy” and a consensus target price of $38.67.
In other CEVA news, Director Maria Marced sold 2,770 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $29.50, for a total value of $81,715.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of CEVA by 3.6% in the 3rd quarter. BlackRock Inc. now owns 3,236,000 shares of the semiconductor company’s stock worth $93,033,000 after buying an additional 113,545 shares during the period. Oaktop Capital Management II L.P. lifted its holdings in shares of CEVA by 6.7% in the 3rd quarter. Oaktop Capital Management II L.P. now owns 793,836 shares of the semiconductor company’s stock worth $22,823,000 after buying an additional 50,000 shares during the period. Rice Hall James & Associates LLC lifted its holdings in shares of CEVA by 16.3% in the 3rd quarter. Rice Hall James & Associates LLC now owns 748,771 shares of the semiconductor company’s stock worth $21,527,000 after buying an additional 104,768 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of CEVA by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 638,973 shares of the semiconductor company’s stock worth $19,297,000 after buying an additional 5,082 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CEVA by 7.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 500,589 shares of the semiconductor company’s stock worth $14,392,000 after buying an additional 32,903 shares during the period. Institutional investors and hedge funds own 87.08% of the company’s stock.
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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 programmable digital signal processor (DSP) cores and application-specific platforms for imaging, computer vision, deep learning, sound, voice, and audio processing; and long range wireless technologies for LTE/5G baseband processing in IoT, handsets, and infrastructure, as well as short range wireless platforms for Wi-Fi and Bluetooth.
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