CEVA Rating Lowered to Neutral at Wedbush (CEVA)
CEVA (NASDAQ:CEVA) was downgraded by research analysts at Wedbush to a “neutral” rating in a report released on Thursday, Stock Ratings Network reports.
Shares of CEVA (NASDAQ:CEVA) opened at 14.15 on Thursday. CEVA has a 52 week low of $13.49 and a 52 week high of $21.10. The stock has a 50-day moving average of $16.53 and a 200-day moving average of $17.04. The company has a market cap of $312.2 million and a P/E ratio of 34.68.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.15 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.19 earnings per share. CEVA’s revenue was down 5.9% compared to the same quarter last year. On average, analysts predict that CEVA will post $0.49 earnings per share for the current fiscal year.
CEVA has been the subject of a number of other recent research reports. Analysts at Barclays cut their price target on shares of CEVA from $24.00 to $23.00 in a research note to investors on Tuesday, October 8th. They now have an “overweight” rating on the stock. Separately, analysts at Oppenheimer downgraded shares of CEVA from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, October 8th. They now have a $24.00 price target on the stock. Finally, analysts at Chardan Capital reiterated a “neutral” rating on shares of CEVA in a research note to investors on Friday, October 4th. They now have a $14.00 price target on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target 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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