CEVA, Inc. (CEVA) Given “Buy” Rating at Barclays PLC
CEVA, Inc. (NASDAQ:CEVA)‘s stock had its “buy” rating reissued by equities research analysts at Barclays PLC in a report released on Wednesday. They presently have a $40.00 price target on the stock. Barclays PLC’s price target points to a potential upside of 14.94% from the stock’s current price.
A number of other equities analysts also recently weighed in on the company. William Blair restated a “market perform” rating on shares of CEVA in a research note on Wednesday. Zacks Investment Research upgraded CEVA from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, November 8th. Roth Capital began coverage on CEVA in a research note on Wednesday, September 28th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Benchmark Co. set a $36.00 target price on CEVA and gave the stock a “buy” rating in a research note on Wednesday, September 28th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $33.80.
Shares of CEVA (NASDAQ:CEVA) traded down 1.01% during midday trading on Wednesday, reaching $34.45. The company had a trading volume of 127,026 shares. CEVA has a one year low of $17.10 and a one year high of $36.81. The firm has a market capitalization of $731.37 million, a P/E ratio of 71.77 and a beta of 0.72. The company has a 50 day moving average price of $32.54 and a 200-day moving average price of $31.22.
CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business earned $17.85 million during the quarter, compared to the consensus estimate of $17.67 million. CEVA had a return on equity of 5.75% and a net margin of 15.11%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, analysts anticipate that CEVA will post $0.91 EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in CEVA by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,689,514 shares of the company’s stock worth $45,905,000 after buying an additional 39,815 shares during the period. BlackRock Fund Advisors boosted its stake in CEVA by 9.8% in the third quarter. BlackRock Fund Advisors now owns 1,445,527 shares of the company’s stock worth $50,695,000 after buying an additional 128,547 shares during the period. Ranger Investment Management L.P. boosted its stake in CEVA by 106.1% in the second quarter. Ranger Investment Management L.P. now owns 624,153 shares of the company’s stock worth $16,958,000 after buying an additional 321,345 shares during the period. Neuberger Berman Group LLC boosted its stake in CEVA by 1.6% in the second quarter. Neuberger Berman Group LLC now owns 604,363 shares of the company’s stock worth $16,420,000 after buying an additional 9,643 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in CEVA by 1.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 561,270 shares of the company’s stock worth $19,684,000 after buying an additional 6,083 shares during the period. 88.14% of the stock is currently owned by institutional investors.
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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