Ceva Inc. (CEVA) Given Consensus Rating of “Buy” by Brokerages
Ceva Inc. (NASDAQ:CEVA) has received a consensus rating of “Buy” from the eleven brokerages that are currently covering the firm. One equities research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $32.44.
Several research analysts have commented on CEVA shares. Benchmark Co. set a $36.00 price objective on Ceva and gave the company a “buy” rating in a research report on Wednesday, September 14th. Wunderlich raised their price objective on Ceva from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Roth Capital assumed coverage on Ceva in a research note on Wednesday, September 28th. They set a “buy” rating and a $40.00 target price for the company. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $37.00 target price (up from $32.00) on shares of Ceva in a research note on Friday, August 5th. Finally, Zacks Investment Research upgraded Ceva from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th.
Ceva (NASDAQ:CEVA) traded down 4.91% during mid-day trading on Tuesday, reaching $32.94. The company’s stock had a trading volume of 177,354 shares. The stock’s 50-day moving average is $33.08 and its 200-day moving average is $28.26. Ceva has a 12 month low of $17.11 and a 12 month high of $36.81. The firm has a market capitalization of $690.42 million, a PE ratio of 68.62 and a beta of 0.97.
Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Ceva had a return on equity of 5.87% and a net margin of 15.36%. The company had revenue of $17.10 million for the quarter, compared to analyst estimates of $17.02 million. During the same period last year, the company posted $0.06 earnings per share. The firm’s revenue was up 27.6% compared to the same quarter last year. On average, equities analysts anticipate that Ceva will post $0.83 EPS for the current year.
In related news, CEO Gideon Wertheizer sold 43,342 shares of Ceva stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $31.41, for a total value of $1,361,372.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce Mann sold 24,204 shares of Ceva stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $31.85, for a total value of $770,897.40. Following the completion of the transaction, the director now owns 32,086 shares of the company’s stock, valued at $1,021,939.10. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC purchased a new position in Ceva during the second quarter worth approximately $109,000. Royal Bank of Canada purchased a new position in Ceva during the second quarter worth approximately $1,592,000. Schwab Charles Investment Management Inc. increased 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 purchased a new position in Ceva during the second quarter worth approximately $567,000. Finally, Arizona State Retirement System increased 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. Institutional investors and hedge funds own 87.67% 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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