Barclays PLC Reaffirms Buy Rating for CEVA, Inc. (CEVA)
CEVA, Inc. (NASDAQ:CEVA)‘s stock had its “buy” rating restated by Barclays PLC in a note issued to investors on Wednesday. They presently have a $40.00 price objective on the stock. Barclays PLC’s target price suggests a potential upside of 14.94% from the stock’s previous close.
Several other research firms also recently weighed in on CEVA. Zacks Investment Research raised shares of CEVA from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, November 8th. Benchmark Co. set a $36.00 target price on shares of CEVA and gave the stock a “buy” rating in a research note on Wednesday, September 14th. William Blair reaffirmed a “market perform” rating on shares of CEVA in a research note on Wednesday. Finally, Roth Capital initiated coverage on shares of CEVA in a research note on Wednesday, September 28th. They set a “buy” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.80.
Shares of CEVA (NASDAQ:CEVA) traded down 1.01% during trading on Wednesday, reaching $34.45. 127,026 shares of the company’s stock were exchanged. CEVA has a 12-month low of $17.10 and a 12-month high of $36.81. The company has a 50 day moving average of $32.54 and a 200 day moving average of $31.22. The stock has a market cap of $731.37 million, a P/E ratio of 71.77 and a beta of 0.72.
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CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $17.85 million for the quarter, compared to the consensus estimate of $17.67 million. CEVA had a net margin of 15.11% and a return on equity of 5.75%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. Equities research analysts anticipate that CEVA will post $0.91 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in CEVA. Candlewood Investment Group LP acquired a new position in shares of CEVA during the second quarter worth $567,000. Mason Street Advisors LLC acquired a new position in shares of CEVA during the second quarter worth $109,000. SG Americas Securities LLC acquired a new position in shares of CEVA during the third quarter worth $157,000. Municipal Employees Retirement System of Michigan boosted its position in shares of CEVA by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,530 shares of the company’s stock worth $159,000 after buying an additional 70 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in shares of CEVA during the third quarter worth $191,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.
CEVA Company Profile
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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