Ceva Inc. (CEVA) Now Covered by Analysts at Roth Capital
CEVA has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Ceva from a buy rating to a hold rating in a report on Wednesday, June 8th. Wunderlich upped their price target on shares of Ceva from $30.00 to $33.00 and gave the stock a buy rating in a report on Tuesday, July 19th. Benchmark Co. cut their price target on shares of Ceva from $36.00 to $32.00 and set a buy rating for the company in a report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $37.00 price target (up previously from $32.00) on shares of Ceva in a report on Friday, August 5th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Ceva presently has an average rating of Buy and a consensus target price of $32.20.
Ceva (NASDAQ:CEVA) opened at 35.24 on Wednesday. Ceva has a 52 week low of $17.11 and a 52 week high of $36.81. The firm has a 50-day moving average of $32.16 and a 200-day moving average of $27.39. The company has a market capitalization of $738.63 million, a PE ratio of 73.42 and a beta of 1.01.
Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. The firm earned $17.10 million during the quarter, compared to the consensus estimate of $17.02 million. Ceva had a net margin of 15.36% and a return on equity of 5.87%. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. Equities analysts expect that Ceva will post $0.84 earnings per share for the current fiscal year.
In related news, CEO Gideon Wertheizer sold 43,342 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $31.41, for a total transaction of $1,361,372.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Senvest Management, Llc sold 155,100 shares of the stock in a transaction on 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. Corporate insiders own 4.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mason Street Advisors LLC acquired a new position in Ceva during the second quarter worth $109,000. Royal Bank of Canada acquired a new position in Ceva during the second quarter worth $1,592,000. Schwab Charles Investment Management Inc. raised its position in Ceva by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,912 shares of the company’s stock worth $2,063,000 after buying an additional 8,224 shares during the period. Candlewood Investment Group LP acquired a new position in Ceva during the second quarter worth $567,000. Finally, Arizona State Retirement System raised its position in Ceva by 1.0% in the second quarter. Arizona State Retirement System now owns 10,586 shares of the company’s stock worth $288,000 after buying an additional 100 shares during the period. 87.67% 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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