CEVA Price Target Cut to $23.00 by Analysts at Barclays Capital (CEVA)
Equities researchers at Barclays Capital decreased their price target on shares of CEVA (NASDAQ:CEVA) from $24.00 to $23.00 in a research report issued on Tuesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s price target would suggest a potential upside of 67.76% from the stock’s previous close.
CEVA (NASDAQ:CEVA) traded down 2.90% on Tuesday, hitting $13.71. The stock had a trading volume of 434,540 shares. CEVA has a 52 week low of $13.26 and a 52 week high of $21.10. The stock has a 50-day moving average of $17.26 and a 200-day moving average of $17.14. The company has a market cap of $302.5 million and a P/E ratio of 34.61.
CEVA (NASDAQ:CEVA) last released its earnings data on Wednesday, July 31st. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Analysts expect that CEVA will post $0.51 EPS for the current fiscal year.
A number of other firms have also recently commented on CEVA. Analysts at Oppenheimer downgraded shares of CEVA from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. They now have a $24.00 price target on the stock. Separately, analysts at Chardan Capital reiterated a “neutral” rating on shares of CEVA in a research note to investors on Friday. They now have a $14.00 price target on the stock. Finally, analysts at Wunderlich cut their price target on shares of CEVA from $23.00 to $20.00 in a research note to investors on Thursday, October 3rd. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $19.83.
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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