Ceva Inc. (CEVA) Sees Large Volume Increase
Ceva Inc. (NASDAQ:CEVA) shares saw an uptick in trading volume on Tuesday . 158,179 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 149,014 shares.The stock last traded at $34.99 and had previously closed at $34.99.
A number of research firms have commented on CEVA. Zacks Investment Research downgraded Ceva from a “buy” rating to a “hold” rating in a report on Wednesday, June 8th. Wunderlich raised their target price on Ceva from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Benchmark Co. dropped their price target on Ceva from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $37.00 price target (up previously from $32.00) on shares of Ceva in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $31.33.
The company has a 50 day moving average price of $31.38 and a 200-day moving average price of $26.72. The company has a market capitalization of $723.75 million, a PE ratio of 71.94 and a beta of 1.01.
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Ceva (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $17.10 million for the quarter, compared to analyst estimates of $17.02 million. Ceva had a return on equity of 5.87% and a net margin of 15.36%. Ceva’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share. On average, equities analysts expect that Ceva Inc. will post $0.84 earnings per share for the current year.
In related news, Director Bruce Mann sold 24,204 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $31.85, for a total transaction of $770,897.40. Following the transaction, the director now directly owns 32,086 shares of the company’s stock, valued at $1,021,939.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gideon Wertheizer sold 43,342 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $31.41, for a total value of $1,361,372.22. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its position in Ceva by 2.8% in the first quarter. Prudential Financial Inc. now owns 48,543 shares of the company’s stock valued at $1,092,000 after buying an additional 1,300 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of Ceva during the first quarter valued at $747,000. Uniplan Investment Counsel Inc. raised its position in shares of Ceva by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 234,839 shares of the company’s stock valued at $5,284,000 after buying an additional 816 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ceva by 0.5% in the first quarter. Geode Capital Management LLC now owns 132,401 shares of the company’s stock valued at $2,979,000 after buying an additional 681 shares during the last quarter. Finally, Friess Associates LLC purchased a new position in shares of Ceva during the first quarter valued at $691,000. 88.24% of the stock is currently owned by hedge funds and other institutional investors.
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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