CEVA, Inc. (CEVA) Receives Average Rating of “Hold” from Analysts

Shares of CEVA, Inc. (NASDAQ:CEVA) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $48.60.

Several equities research analysts have recently commented on CEVA shares. Canaccord Genuity started coverage on shares of CEVA in a research note on Friday, February 9th. They issued a “buy” rating and a $50.00 target price on the stock. Oppenheimer downgraded shares of CEVA from an “outperform” rating to a “hold” rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. UBS Group downgraded shares of CEVA from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. Barclays reduced their target price on shares of CEVA from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Finally, Zacks Investment Research downgraded shares of CEVA from a “hold” rating to a “sell” rating in a research note on Monday, November 6th.

In related news, Director Sven Christer Nilsson sold 27,285 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $47.50, for a total transaction of $1,296,037.50. Following the transaction, the director now owns 28,282 shares in the company, valued at approximately $1,343,395. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Yaniv Arieli sold 8,614 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $49.25, for a total transaction of $424,239.50. Following the transaction, the chief financial officer now owns 40,372 shares in the company, valued at approximately $1,988,321. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,467 shares of company stock worth $2,834,039. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in CEVA by 2.7% during the 4th quarter. BlackRock Inc. now owns 2,793,672 shares of the semiconductor company’s stock worth $128,927,000 after buying an additional 74,613 shares in the last quarter. Vanguard Group Inc. lifted its position in CEVA by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,983,620 shares of the semiconductor company’s stock valued at $90,155,000 after purchasing an additional 53,209 shares during the period. Lord Abbett & CO. LLC lifted its position in CEVA by 61.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock valued at $60,648,000 after purchasing an additional 505,443 shares during the period. Dimensional Fund Advisors LP lifted its position in CEVA by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 617,663 shares of the semiconductor company’s stock valued at $26,436,000 after purchasing an additional 13,633 shares during the period. Finally, Ranger Investment Management L.P. lifted its position in CEVA by 7.7% during the 4th quarter. Ranger Investment Management L.P. now owns 602,256 shares of the semiconductor company’s stock valued at $27,794,000 after purchasing an additional 42,812 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Shares of CEVA (CEVA) opened at $35.65 on Wednesday. CEVA has a 52 week low of $32.80 and a 52 week high of $51.80. The company has a market cap of $786.70, a price-to-earnings ratio of 46.91, a PEG ratio of 2.82 and a beta of 0.72.

CEVA (NASDAQ:CEVA) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. CEVA had a net margin of 19.46% and a return on equity of 7.82%. The company had revenue of $21.60 million for the quarter, compared to the consensus estimate of $21.17 million. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities research analysts forecast that CEVA will post 0.63 earnings per share for the current year.

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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).

Analyst Recommendations for CEVA (NASDAQ:CEVA)

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