Canaccord Genuity Raises CEVA, Inc. (CEVA) Price Target to $54.00
CEVA, Inc. (NASDAQ:CEVA) had its target price raised by Canaccord Genuity from $45.00 to $54.00 in a research report issued on Friday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity’s price objective points to a potential upside of 25.87% from the stock’s previous close.
A number of other research analysts also recently issued reports on CEVA. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $37.00 price target on shares of CEVA in a report on Friday, April 21st. Benchmark Co. boosted their price target on CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 5th. BidaskClub downgraded CEVA from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Roth Capital boosted their price target on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.71.
CEVA (CEVA) traded down 4.67% during midday trading on Friday, reaching $42.90. The company had a trading volume of 237,524 shares. CEVA has a one year low of $28.15 and a one year high of $48.67. The company has a 50-day moving average price of $46.02 and a 200-day moving average price of $39.38. The stock has a market capitalization of $924.62 million, a price-to-earnings ratio of 56.45 and a beta of 0.63.
CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. CEVA had a return on equity of 8.24% and a net margin of 20.52%. The company had revenue of $20.57 million for the quarter, compared to the consensus estimate of $19.66 million. During the same quarter in the previous year, the business earned $0.21 EPS. CEVA’s revenue was up 20.3% compared to the same quarter last year. On average, equities analysts expect that CEVA will post $1.13 earnings per share for the current year.
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In other CEVA news, CFO Yaniv Arieli sold 59,764 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $42.91, for a total transaction of $2,564,473.24. Following the transaction, the chief financial officer now owns 52,249 shares in the company, valued at approximately $2,242,004.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Mcmanamon sold 1,497 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $45.00, for a total value of $67,365.00. Following the transaction, the director now owns 264,054 shares in the company, valued at approximately $11,882,430. The disclosure for this sale can be found here. Insiders have sold a total of 150,219 shares of company stock worth $6,414,133 in the last quarter. Company insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC increased its position in CEVA by 313.4% in the first quarter. LS Investment Advisors LLC now owns 2,935 shares of the semiconductor company’s stock worth $104,000 after buying an additional 2,225 shares during the period. Victory Capital Management Inc. increased its position in CEVA by 35.2% in the first quarter. Victory Capital Management Inc. now owns 3,249 shares of the semiconductor company’s stock worth $115,000 after buying an additional 846 shares during the period. Penserra Capital Management LLC increased its position in CEVA by 75.0% in the first quarter. Penserra Capital Management LLC now owns 3,612 shares of the semiconductor company’s stock worth $128,000 after buying an additional 1,548 shares during the period. US Bancorp DE increased its position in CEVA by 9.2% in the second quarter. US Bancorp DE now owns 3,727 shares of the semiconductor company’s stock worth $169,000 after buying an additional 313 shares during the period. Finally, State of Alaska Department of Revenue increased its position in CEVA by 80.3% in the second quarter. State of Alaska Department of Revenue now owns 4,237 shares of the semiconductor company’s stock worth $192,000 after buying an additional 1,887 shares during the period. Hedge funds and other institutional investors own 88.70% 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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