CEVA, Inc. (NASDAQ:CEVA) Stock Rating Reaffirmed by Canaccord Genuity
Canaccord Genuity restated their buy rating on shares of CEVA, Inc. (NASDAQ:CEVA) in a research note released on Tuesday, July 11th. Canaccord Genuity currently has a $45.00 price objective on the semiconductor company’s stock.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of CEVA from a sell rating to a hold rating in a research note on Tuesday, April 4th. Wunderlich reaffirmed a buy rating and issued a $40.00 price target on shares of CEVA in a report on Monday, March 27th. Oppenheimer Holdings, Inc. raised their price target on shares of CEVA from $37.00 to $42.00 and gave the stock an outperform rating in a report on Monday, May 15th. Finally, Benchmark Co. raised their price target on shares of CEVA from $42.00 to $50.00 and gave the stock a buy rating in a report on Monday, June 5th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $44.71.
Shares of CEVA (NASDAQ:CEVA) traded down 4.67% during midday trading on Tuesday, reaching $42.90. The company had a trading volume of 237,524 shares. The company has a market capitalization of $924.62 million, a PE ratio of 60.59 and a beta of 0.63. CEVA has a one year low of $28.15 and a one year high of $48.67. The company has a 50 day moving average of $46.02 and a 200 day moving average of $39.38.
CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. CEVA had a net margin of 20.52% and a return on equity of 8.24%. The firm had revenue of $20.57 million for the quarter, compared to the consensus estimate of $19.66 million. During the same period last year, the firm earned $0.21 earnings per share. The company’s quarterly revenue was up 20.3% on a year-over-year basis. Analysts predict that CEVA will post $1.13 EPS for the current fiscal year.
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In other CEVA news, CEO Gideon Wertheizer sold 30,332 shares of CEVA stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $42.50, for a total transaction of $1,289,110.00. Following the transaction, the chief executive officer now directly owns 85,388 shares of the company’s stock, valued at $3,628,990. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Issachar Ohana sold 5,361 shares of CEVA stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $41.84, for a total transaction of $224,304.24. Following the transaction, the executive vice president now directly owns 35,822 shares in the company, valued at $1,498,792.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,219 shares of company stock worth $6,414,133. Company insiders own 3.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sapphire Star Partners LP increased its stake in CEVA by 9.0% in the first quarter. Sapphire Star Partners LP now owns 6,756 shares of the semiconductor company’s stock worth $240,000 after buying an additional 555 shares during the period. Candriam Luxembourg S.C.A. increased its stake in CEVA by 102.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 83,046 shares of the semiconductor company’s stock worth $2,948,000 after buying an additional 41,928 shares during the period. Navellier & Associates Inc increased its stake in CEVA by 9.4% in the first quarter. Navellier & Associates Inc now owns 6,756 shares of the semiconductor company’s stock worth $240,000 after buying an additional 580 shares during the period. Louisiana State Employees Retirement System increased its stake in CEVA by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,600 shares of the semiconductor company’s stock worth $305,000 after buying an additional 100 shares during the period. Finally, Skylands Capital LLC bought a new stake in CEVA during the first quarter worth about $1,727,000. 88.70% of the stock is currently 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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