CEVA, Inc. (NASDAQ:CEVA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

Several other equities analysts have also recently issued reports on CEVA. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price target on shares of CEVA in a research report on Tuesday, July 11th. BidaskClub cut CEVA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Roth Capital lifted their price target on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $46.57.

CEVA (NASDAQ CEVA) traded down 0.47% during mid-day trading on Wednesday, reaching $42.25. The company’s stock had a trading volume of 100,082 shares. CEVA has a 52 week low of $28.15 and a 52 week high of $48.67. The firm’s 50 day moving average price is $41.50 and its 200 day moving average price is $41.63. The firm has a market capitalization of $927.98 million, a P/E ratio of 55.89 and a beta of 0.71.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $19.66 million. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, analysts anticipate that CEVA will post $1.13 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC grew its holdings in shares of CEVA by 61.0% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock worth $60,648,000 after acquiring an additional 505,443 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of CEVA by 3.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 640,978 shares of the semiconductor company’s stock worth $29,132,000 after acquiring an additional 23,564 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of CEVA in the 2nd quarter worth $211,000. The Manufacturers Life Insurance Company grew its holdings in shares of CEVA by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,521 shares of the semiconductor company’s stock worth $751,000 after acquiring an additional 1,185 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of CEVA by 1.5% in the 2nd quarter. State Street Corp now owns 582,662 shares of the semiconductor company’s stock worth $26,484,000 after acquiring an additional 8,878 shares during the last quarter. Institutional investors and hedge funds own 86.72% 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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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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