CEVA, Inc. (CEVA) Given New $54.00 Price Target at Canaccord Genuity
CEVA, Inc. (NASDAQ:CEVA) had its price target increased by Canaccord Genuity from $53.00 to $54.00 in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity’s target price suggests a potential upside of 11.80% from the stock’s current price.
CEVA has been the subject of several other research reports. Zacks Investment Research raised CEVA from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, October 3rd. Roth Capital increased their price target on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, BidaskClub raised CEVA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $46.71.
CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. The company had revenue of $24.00 million during the quarter, compared to analysts’ expectations of $21.56 million. CEVA had a return on equity of 8.24% and a net margin of 20.52%. The business’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. grew its stake in CEVA by 2.2% during the second 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. Victory Capital Management Inc. grew its stake in CEVA by 35.2% during the first quarter. Victory Capital Management Inc. now owns 3,249 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 846 shares during the period. US Bancorp DE grew its stake in CEVA by 9.2% during the second quarter. US Bancorp DE now owns 3,727 shares of the semiconductor company’s stock worth $169,000 after purchasing an additional 313 shares during the period. State of Alaska Department of Revenue grew its stake in CEVA by 80.3% during the second quarter. State of Alaska Department of Revenue now owns 4,237 shares of the semiconductor company’s stock worth $192,000 after purchasing an additional 1,887 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new stake in CEVA during the second quarter worth approximately $211,000. 86.91% of the stock is owned by institutional investors and hedge funds.
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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