Ceva Inc. (CEVA) Given Consensus Rating of “Buy” by Brokerages
Ceva Inc. (NASDAQ:CEVA) has been given an average rating of “Buy” by the eleven research firms that are presently covering the company. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $32.44.
A number of research analysts have recently commented on the stock. Roth Capital assumed coverage on shares of Ceva in a research report on Wednesday, September 28th. They set a “buy” rating and a $40.00 price objective for the company. Benchmark Co. set a $36.00 price objective on shares of Ceva and gave the company a “buy” rating in a research report on Wednesday, September 14th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $37.00 price objective (up previously from $32.00) on shares of Ceva in a research report on Friday, August 5th. Zacks Investment Research raised shares of Ceva from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, July 4th. Finally, Wunderlich upped their price objective on shares of Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 19th.
Ceva (NASDAQ:CEVA) traded down 4.91% during midday trading on Tuesday, hitting $32.94. The stock had a trading volume of 177,354 shares. The stock’s 50 day moving average price is $33.08 and its 200-day moving average price is $28.26. Ceva has a 52 week low of $17.11 and a 52 week high of $36.81. The company has a market cap of $690.42 million, a PE ratio of 68.62 and a beta of 0.97.
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Ceva (NASDAQ:CEVA) last released its earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The firm earned $17.10 million during the quarter, compared to analyst estimates of $17.02 million. Ceva had a net margin of 15.36% and a return on equity of 5.87%. The business’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Equities research analysts predict that Ceva will post $0.83 earnings per share for the current year.
In related news, major shareholder Senvest Management, Llc sold 73,500 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $29.65, for a total value of $2,179,275.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bruce Mann sold 24,204 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $31.85, for a total transaction of $770,897.40. Following the completion of the sale, the director now directly owns 32,086 shares in the company, valued at approximately $1,021,939.10. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in Ceva by 1.0% in the second quarter. Arizona State Retirement System now owns 10,586 shares of the company’s stock worth $288,000 after buying an additional 100 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of Ceva by 3.0% in the second quarter. BlackRock Advisors LLC now owns 10,150 shares of the company’s stock valued at $276,000 after buying an additional 296 shares in the last quarter. Teachers Advisors Inc. boosted its stake in shares of Ceva by 0.9% in the second quarter. Teachers Advisors Inc. now owns 32,915 shares of the company’s stock valued at $894,000 after buying an additional 299 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Ceva by 5.4% in the second quarter. Thrivent Financial for Lutherans now owns 9,900 shares of the company’s stock valued at $269,000 after buying an additional 510 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its stake 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 in the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.
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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