CEVA, Inc. (CEVA) Upgraded at Zacks Investment Research
CEVA, Inc. (NASDAQ:CEVA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $48.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.07% from the stock’s previous close.
According to Zacks, “CEVA, Inc. licenses signal processing intellectual property technologies to semiconductor companies and original equipment manufacturers serving the mobile, consumer, automotive, industrial, and Internet-of Things markets. Its licenses a family of programmable digital signal processor cores and application-specific platforms for vision, imaging, and audio and voice, as well as long and short range wireless technologies, Wi-Fi, Bluetooth IPs. Its technologies are licensed to semiconductor and OEM companies in the form of IP, which is used for the design, manufacture, market, and sale of application-specific integrated circuits and application-specific standard products to wireless, consumer electronics, and automotive companies for incorporation. Its IP is primarily deployed in markets, such as smartphones, tablets, smart home appliances, wearables, surveillance, connected cars, drones, robots, and industrial and medical equipment. It was formerly known as ParthusCeva, Inc. and changed its name to CEVA, Inc. “
A number of other analysts also recently issued reports on the company. BidaskClub downgraded CEVA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price target on shares of CEVA in a report on Tuesday, July 11th. Roth Capital lifted their price target on CEVA from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Benchmark Co. boosted their price target on shares of CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $46.57.
Shares of CEVA (NASDAQ:CEVA) traded down 1.51% during midday trading on Tuesday, hitting $42.45. 150,102 shares of the stock traded hands. CEVA has a 12-month low of $28.15 and a 12-month high of $48.67. The stock has a market cap of $932.37 million, a price-to-earnings ratio of 56.15 and a beta of 0.71. The company’s 50 day moving average price is $41.50 and its 200-day moving average price is $41.63.
CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $20.57 million for the quarter, compared to the consensus estimate of $19.66 million. CEVA had a return on equity of 8.24% and a net margin of 20.52%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. On average, equities research analysts expect that CEVA will post $1.14 EPS for the current year.
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Several institutional investors have recently made changes to their positions in CEVA. Pinebridge Investments L.P. grew its holdings in shares of CEVA by 2.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,831 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 62 shares during the period. Louisiana State Employees Retirement System increased its position in shares of CEVA by 1.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System increased its position in shares of CEVA by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 11,186 shares of the semiconductor company’s stock worth $508,000 after purchasing an additional 100 shares during the last quarter. First Trust Advisors LP increased its position in shares of CEVA by 4.1% during the 1st quarter. First Trust Advisors LP now owns 6,539 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 258 shares during the last quarter. Finally, Texas Permanent School Fund increased its position in shares of CEVA by 2.0% during the 2nd quarter. Texas Permanent School Fund now owns 15,683 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 312 shares during the last quarter. 86.72% 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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