Sterne Agee Downgrades CEVA to Neutral (CEVA)
CEVA (NASDAQ:CEVA) was downgraded by research analysts at Sterne Agee to a “neutral” rating in a report released on Thursday, Analyst Ratings Network reports.
A number of other firms have also recently commented on CEVA. Analysts at William Blair downgraded shares of CEVA (NASDAQ:CEVA) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, September 4th. Analysts at Benchmark Co. cut their price target on shares of CEVA (NASDAQ:CEVA) from $21.00 to $20.00 in a research note to investors on Wednesday, July 24th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $19.40.
Shares of CEVA (NASDAQ:CEVA) traded down 16.49% during mid-day trading on Thursday, hitting $14.28. The stock had a trading volume of 932,034 shares. CEVA has a 52-week low of $12.96 and a 52-week high of $21.10. The stock has a 50-day moving average of $17.68 and a 200-day moving average of $17.17. The company has a market cap of $315.1 million and a price-to-earnings ratio of 41.91.
CEVA (NASDAQ:CEVA) last released its earnings data on Wednesday, July 31st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $12.80 million for the quarter, compared to the consensus estimate of $11.96 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Analysts expect that CEVA will post $0.61 EPS for the current fiscal year.
CEVA, Inc (NASDAQ:CEVA) is a licensor of silicon intellectual property (SIP) primarily for the handsets, mobile broadband, portable and consumer electronics markets.
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