CEVA, Inc. (NASDAQ:CEVA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday, July 27th.
A number of other equities research analysts have also commented on the company. Canaccord Genuity reiterated a “buy” rating and issued a $45.00 target price on shares of CEVA in a research report on Tuesday, July 11th. Benchmark Co. upped their price objective on CEVA from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Oppenheimer Holdings, Inc. upped their price objective on CEVA from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, Zacks Investment Research upgraded CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. CEVA has a consensus rating of “Buy” and a consensus price target of $44.71.
CEVA (CEVA) traded down 1.03% during trading on Thursday, hitting $43.20. 153,739 shares of the company were exchanged. The firm’s 50 day moving average price is $45.97 and its 200-day moving average price is $39.49. The stock has a market capitalization of $931.09 million, a PE ratio of 61.02 and a beta of 0.63. CEVA has a 1-year low of $28.15 and a 1-year high of $48.67.
CEVA (NASDAQ:CEVA) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $20.57 million for the quarter, compared to analyst estimates of $19.66 million. CEVA had a return on equity of 8.24% and a net margin of 20.52%. CEVA’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Equities analysts predict that CEVA will post $1.14 EPS for the current year.
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In other CEVA news, CEO Gideon Wertheizer sold 30,332 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $42.50, for a total value of $1,289,110.00. Following the completion of the sale, the chief executive officer now directly owns 85,388 shares of the company’s stock, valued at approximately $3,628,990. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Yaniv Arieli sold 59,764 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $42.91, for a total value of $2,564,473.24. Following the completion of the sale, the chief financial officer now directly owns 52,249 shares of the company’s stock, valued at $2,242,004.59. The disclosure for this sale can be found here. Insiders sold a total of 144,858 shares of company stock valued at $6,189,829 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in CEVA by 149,831.4% in the first quarter. BlackRock Inc. now owns 2,532,342 shares of the semiconductor company’s stock valued at $89,898,000 after buying an additional 2,530,653 shares during the last quarter. Oaktop Capital Management II L.P. purchased a new stake in CEVA during the second quarter valued at $33,807,000. Pictet Asset Management Ltd. purchased a new stake in CEVA during the first quarter valued at $15,238,000. Teachers Advisors LLC increased its stake in CEVA by 723.5% in the first quarter. Teachers Advisors LLC now owns 313,466 shares of the semiconductor company’s stock valued at $11,128,000 after buying an additional 275,403 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in CEVA during the second quarter valued at $5,875,000. Institutional investors and hedge funds own 89.66% of the company’s stock.
About CEVA
CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).
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