CEVA, Inc. (NASDAQ:CEVA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “CEVA, Inc. licenses signal processing intellectual property technologies to semiconductor companies and original equipment manufacturers serving the mobile, consumer, automotive, industrial, and Internet-of Things markets. Its licenses a family of programmable digital signal processor cores and application-specific platforms for vision, imaging, and audio and voice, as well as long and short range wireless technologies, Wi-Fi, Bluetooth IPs. Its technologies are licensed to semiconductor and OEM companies in the form of IP, which is used for the design, manufacture, market, and sale of application-specific integrated circuits and application-specific standard products to wireless, consumer electronics, and automotive companies for incorporation. Its IP is primarily deployed in markets, such as smartphones, tablets, smart home appliances, wearables, surveillance, connected cars, drones, robots, and industrial and medical equipment. It was formerly known as ParthusCeva, Inc. and changed its name to CEVA, Inc. “

Several other research analysts have also recently weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price target on shares of CEVA in a research note on Tuesday, July 11th. BidaskClub cut shares of CEVA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Roth Capital lifted their price target on shares of CEVA from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.57.

CEVA (NASDAQ:CEVA) traded down 0.47% during trading on Wednesday, reaching $42.25. The company had a trading volume of 100,082 shares. The firm’s 50 day moving average price is $41.50 and its 200 day moving average price is $41.63. CEVA has a 12-month low of $28.15 and a 12-month high of $48.67. The firm has a market capitalization of $927.98 million, a PE ratio of 55.89 and a beta of 0.71.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The business had revenue of $20.57 million for the quarter, compared to analysts’ expectations of $19.66 million. CEVA had a net margin of 20.52% and a return on equity of 8.24%. The company’s revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. Equities research analysts forecast that CEVA will post $1.13 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/10/04/zacks-investment-research-lowers-ceva-inc-ceva-to-hold.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CEVA. BlackRock Inc. lifted its stake in shares of CEVA by 149,831.4% during the 1st quarter. BlackRock Inc. now owns 2,532,342 shares of the semiconductor company’s stock valued at $89,898,000 after buying an additional 2,530,653 shares in the last quarter. Oaktop Capital Management II L.P. purchased a new position in shares of CEVA during the 2nd quarter valued at $33,807,000. Lord Abbett & CO. LLC lifted its stake in shares of CEVA by 61.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock valued at $60,648,000 after buying an additional 505,443 shares in the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of CEVA during the 2nd quarter valued at $21,272,000. Finally, Teachers Advisors LLC lifted its stake in shares of CEVA by 723.5% during the 1st quarter. Teachers Advisors LLC now owns 313,466 shares of the semiconductor company’s stock valued at $11,128,000 after buying an additional 275,403 shares in the last quarter. Institutional investors own 86.72% of the company’s stock.

About CEVA

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).

Analyst Recommendations for CEVA (NASDAQ:CEVA)

Receive News & Stock Ratings for CEVA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEVA Inc. and related stocks with our FREE daily email newsletter.