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.
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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