CEVA (CEVA) Given Outperform Rating at Cowen

CEVA (NASDAQ:CEVA)‘s stock had its “outperform” rating reiterated by research analysts at Cowen in a research note issued on Tuesday, Briefing.com Automated Import reports. They presently have a $29.00 price target on the semiconductor company’s stock, down from their previous price target of $33.00. Cowen’s price target suggests a potential upside of 18.61% from the stock’s previous close.

A number of other equities research analysts have also commented on CEVA. Northland Securities restated a “hold” rating and set a $27.00 price objective on shares of CEVA in a report on Thursday, April 18th. BidaskClub lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. BNP Paribas restated a “neutral” rating on shares of CEVA in a report on Wednesday, April 17th. ValuEngine lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, Canaccord Genuity restated a “buy” rating and set a $35.00 price objective (down from $41.00) on shares of CEVA in a report on Wednesday, February 13th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.86.

Shares of NASDAQ CEVA traded down $0.84 during midday trading on Tuesday, reaching $24.45. 6,242 shares of the stock were exchanged, compared to its average volume of 218,927. The stock has a market cap of $555.91 million, a price-to-earnings ratio of 224.09 and a beta of 1.67. CEVA has a 12 month low of $20.40 and a 12 month high of $35.00.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). CEVA had a return on equity of 1.00% and a net margin of 0.74%. The firm had revenue of $17.00 million for the quarter, compared to the consensus estimate of $17.65 million. During the same period in the prior year, the business earned $0.04 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, analysts forecast that CEVA will post -0.08 EPS for the current fiscal year.

In other CEVA news, EVP Issachar Ohana sold 6,670 shares of CEVA stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $28.00, for a total value of $186,760.00. Following the sale, the executive vice president now directly owns 34,616 shares in the company, valued at approximately $969,248. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of CEVA. Penserra Capital Management LLC increased its stake in shares of CEVA by 43.6% during the 4th quarter. Penserra Capital Management LLC now owns 1,761 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 535 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of CEVA during the 1st quarter worth about $38,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of CEVA during the 4th quarter worth about $138,000. Metropolitan Life Insurance Co. NY increased its stake in shares of CEVA by 371.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,928 shares of the semiconductor company’s stock worth $153,000 after purchasing an additional 5,460 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of CEVA by 18.7% during the 4th quarter. Van ECK Associates Corp now owns 8,100 shares of the semiconductor company’s stock worth $179,000 after purchasing an additional 1,277 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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