CEVA (NASDAQ:CEVA) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.
Other equities research analysts have also recently issued research reports about the stock. Roth Capital cut their price target on shares of CEVA to $44.00 and set a “buy” rating on the stock in a report on Wednesday, May 9th. Canaccord Genuity assumed coverage on shares of CEVA in a report on Friday, February 9th. They set a “buy” rating and a $50.00 price target on the stock. ValuEngine upgraded shares of CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, May 15th. Barclays set a $40.00 price target on shares of CEVA and gave the company a “buy” rating in a report on Thursday, May 10th. Finally, Cowen assumed coverage on shares of CEVA in a report on Thursday, May 17th. They set an “outperform” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $43.83.
Shares of CEVA opened at $34.05 on Tuesday. CEVA has a fifty-two week low of $27.35 and a fifty-two week high of $51.80. The stock has a market capitalization of $751.07 million, a price-to-earnings ratio of 42.56, a price-to-earnings-growth ratio of 4.97 and a beta of 0.91.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, May 9th. The semiconductor company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.07). CEVA had a net margin of 12.82% and a return on equity of 4.97%. The firm had revenue of $17.57 million for the quarter, compared to analysts’ expectations of $18.83 million. During the same quarter in the previous year, the company earned $0.28 EPS. The company’s quarterly revenue was down 17.5% compared to the same quarter last year. equities analysts expect that CEVA will post 0.34 EPS for the current year.
In related news, EVP Issachar Ohana sold 768 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $41.50, for a total transaction of $31,872.00. Following the transaction, the executive vice president now owns 27,929 shares in the company, valued at $1,159,053.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of CEVA. Summit Trail Advisors LLC lifted its position in CEVA by 2,352.4% during the first quarter. Summit Trail Advisors LLC now owns 717,944 shares of the semiconductor company’s stock valued at $718,000 after purchasing an additional 688,669 shares during the period. Asset Management One Co. Ltd. lifted its position in CEVA by 55.3% during the first quarter. Asset Management One Co. Ltd. now owns 739,054 shares of the semiconductor company’s stock valued at $26,754,000 after purchasing an additional 263,252 shares during the period. Baillie Gifford & Co. lifted its position in CEVA by 49.1% during the first quarter. Baillie Gifford & Co. now owns 321,250 shares of the semiconductor company’s stock valued at $11,629,000 after purchasing an additional 105,861 shares during the period. BlackRock Inc. lifted its position in CEVA by 2.9% during the first quarter. BlackRock Inc. now owns 2,875,844 shares of the semiconductor company’s stock valued at $104,107,000 after purchasing an additional 82,172 shares during the period. Finally, Royce & Associates LP lifted its position in CEVA by 6,100.0% during the fourth quarter. Royce & Associates LP now owns 62,000 shares of the semiconductor company’s stock valued at $2,861,000 after purchasing an additional 61,000 shares during the period. Institutional investors own 86.45% of the company’s stock.
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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