CEVA (NASDAQ:CEVA) Shares Gap Up to $57.45


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CEVA, Inc. (NASDAQ:CEVA) gapped up before the market opened on Thursday . The stock had previously closed at $57.45, but opened at $59.50. CEVA shares last traded at $59.50, with a volume of 4 shares traded.

Several research analysts recently commented on CEVA shares. Oppenheimer upgraded shares of CEVA from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Thursday, January 7th. Northland Securities downgraded shares of CEVA from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $51.00 to $78.00 in a research report on Wednesday, February 17th. They noted that the move was a valuation call. Cowen boosted their target price on shares of CEVA from $62.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 17th. Zacks Investment Research downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research report on Monday, February 22nd. Finally, Roth Capital boosted their target price on shares of CEVA from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, February 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $72.67.

The firm’s fifty day moving average price is $59.40 and its 200 day moving average price is $49.60. The firm has a market capitalization of $1.32 billion, a PE ratio of 5,745.00, a P/E/G ratio of 23.97 and a beta of 1.18.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Monday, February 15th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. The business had revenue of $28.15 million for the quarter, compared to the consensus estimate of $23.13 million. CEVA had a net margin of 0.05% and a return on equity of 1.26%. During the same period in the prior year, the firm earned $0.30 EPS. Equities analysts anticipate that CEVA, Inc. will post -0.09 EPS for the current year.

In related news, CFO Yaniv Arieli sold 30,395 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $68.20, for a total value of $2,072,939.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gideon Wertheizer sold 40,000 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $70.63, for a total transaction of $2,825,200.00. The disclosure for this sale can be found here. Insiders sold a total of 107,343 shares of company stock worth $7,392,417 over the last ninety days. Insiders own 3.81% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Everence Capital Management Inc. acquired a new position in shares of CEVA in the 1st quarter valued at $239,000. Amundi Pioneer Asset Management Inc. raised its position in CEVA by 23.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 148,435 shares of the semiconductor company’s stock worth $6,756,000 after acquiring an additional 28,296 shares during the period. JPMorgan Chase & Co. raised its position in CEVA by 135.2% during the fourth quarter. JPMorgan Chase & Co. now owns 68,171 shares of the semiconductor company’s stock worth $3,101,000 after acquiring an additional 39,190 shares during the period. Morgan Stanley raised its position in CEVA by 17.9% during the fourth quarter. Morgan Stanley now owns 90,061 shares of the semiconductor company’s stock worth $4,097,000 after acquiring an additional 13,688 shares during the period. Finally, Select Equity Group L.P. acquired a new position in CEVA during the fourth quarter worth $294,000. Hedge funds and other institutional investors own 85.90% of the company’s stock.

CEVA Company Profile (NASDAQ:CEVA)

CEVA, Inc operates as a licensor of wireless connectivity and smart sensing platforms to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI).

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