Ceva Inc. (CEVA) PT Set at $36.00 by Benchmark Co.
Ceva Inc. (NASDAQ:CEVA) has been assigned a $36.00 price objective by investment analysts at Benchmark Co. in a report released on Wednesday. The firm currently has a a “buy” rating on the stock. Benchmark Co.’s target price would indicate a potential upside of 2.16% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Ceva from a “buy” rating to a “hold” rating in a research report on Wednesday, June 8th. Wunderlich lifted their price target on shares of Ceva from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $37.00 price target (up from $32.00) on shares of Ceva in a research report on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $32.20.
Shares of Ceva (NASDAQ:CEVA) traded down 0.03% during trading on Wednesday, hitting $35.23. 157,030 shares of the stock traded hands. The company has a 50 day moving average price of $32.16 and a 200 day moving average price of $27.39. The firm has a market cap of $738.42 million, a price-to-earnings ratio of 73.40 and a beta of 1.01. Ceva has a 12 month low of $17.11 and a 12 month high of $36.81.
Ceva (NASDAQ:CEVA) last posted its earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Ceva had a net margin of 15.36% and a return on equity of 5.87%. The firm earned $17.10 million during the quarter, compared to analysts’ expectations of $17.02 million. During the same period last year, the company posted $0.06 EPS. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. Analysts anticipate that Ceva will post $0.83 earnings per share for the current fiscal year.
In other Ceva news, CEO Gideon Wertheizer sold 43,342 shares of Ceva stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $31.41, for a total value of $1,361,372.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Senvest Management, Llc sold 155,100 shares of Ceva stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $29.40, for a total transaction of $4,559,940.00. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CEVA. Mason Street Advisors LLC purchased a new position in shares of Ceva during the second quarter valued at about $109,000. Royal Bank of Canada purchased a new position in shares of Ceva during the second quarter valued at about $1,592,000. Schwab Charles Investment Management Inc. boosted its position in shares of Ceva by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,912 shares of the company’s stock valued at $2,063,000 after buying an additional 8,224 shares during the period. Candlewood Investment Group LP purchased a new position in shares of Ceva during the second quarter valued at about $567,000. Finally, Arizona State Retirement System boosted its position in shares of Ceva by 1.0% in the second quarter. Arizona State Retirement System now owns 10,586 shares of the company’s stock valued at $288,000 after buying an additional 100 shares during the period. 87.67% 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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