Ceva Inc. (CEVA) Receives $32.60 Consensus PT from Analysts
Ceva Inc. (NASDAQ:CEVA) has earned an average rating of “Buy” from the eleven ratings firms that are currently covering the firm. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $32.60.
A number of equities analysts have weighed in on the stock. Roth Capital assumed coverage on shares of Ceva in a research report on Wednesday, September 28th. They set a “buy” rating and a $40.00 price objective for the company. Benchmark Co. set a $36.00 price objective on shares of Ceva and gave the stock a “buy” rating in a research report on Wednesday, September 28th. William Blair restated a “market perform” rating on shares of Ceva in a research report on Thursday, November 3rd. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $37.00 price objective (up from $32.00) on shares of Ceva in a research report on Friday, August 5th. Finally, Wunderlich upped their price objective on shares of Ceva from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd.
In related news, Director Bruce Mann sold 24,204 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $31.85, for a total value of $770,897.40. Following the completion of the sale, the director now owns 32,086 shares of the company’s stock, valued at $1,021,939.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan raised its stake in shares of Ceva by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,530 shares of the company’s stock worth $159,000 after buying an additional 70 shares in the last quarter. American International Group Inc. raised its stake in shares of Ceva by 0.5% in the third quarter. American International Group Inc. now owns 14,860 shares of the company’s stock worth $521,000 after buying an additional 75 shares in the last quarter. Arizona State Retirement System raised its stake 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 worth $288,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Ceva by 2.2% in the third quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the company’s stock worth $326,000 after buying an additional 200 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Ceva by 0.3% in the third quarter. Two Sigma Advisers LP now owns 76,728 shares of the company’s stock worth $2,691,000 after buying an additional 201 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.
Ceva (NASDAQ:CEVA) opened at 31.55 on Tuesday. The company’s 50 day moving average is $31.58 and its 200 day moving average is $29.80. The stock has a market cap of $669.81 million, a PE ratio of 65.73 and a beta of 0.72. 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, November 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Ceva had a net margin of 15.11% and a return on equity of 5.75%. The firm earned $17.85 million during the quarter, compared to analysts’ expectations of $17.67 million. During the same period in the previous year, the business posted $0.22 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Ceva will post $0.87 EPS for the current fiscal year.
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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