CEVA, Inc. (CEVA) Receives Average Recommendation of “Buy” from Brokerages
CEVA, Inc. (NASDAQ:CEVA) has been assigned an average rating of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $46.33.
A number of brokerages have recently commented on CEVA. Canaccord Genuity increased their price objective on CEVA from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of CEVA from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, October 3rd. Roth Capital boosted their target price on shares of CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, BidaskClub raised shares of CEVA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd.
A number of large investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC raised its stake in 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 purchasing an additional 505,443 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in CEVA by 3.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 640,978 shares of the semiconductor company’s stock valued at $29,132,000 after purchasing an additional 23,564 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in CEVA during the 2nd quarter valued at $211,000. The Manufacturers Life Insurance Company raised its stake in CEVA by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,521 shares of the semiconductor company’s stock valued at $751,000 after purchasing an additional 1,185 shares during the period. Finally, State Street Corp raised its stake in CEVA by 1.5% during the 2nd quarter. State Street Corp now owns 582,662 shares of the semiconductor company’s stock valued at $26,484,000 after purchasing an additional 8,878 shares during the period. 86.72% of the stock is currently owned by institutional investors.
CEVA (NASDAQ CEVA) traded up 0.22% during trading on Thursday, reaching $45.40. The company’s stock had a trading volume of 86,048 shares. The firm has a 50-day moving average price of $42.12 and a 200-day moving average price of $42.15. The firm has a market capitalization of $997.17 million, a P/E ratio of 60.05 and a beta of 0.71. CEVA has a 52 week low of $28.15 and a 52 week high of $49.50.
CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. CEVA had a return on equity of 8.24% and a net margin of 20.52%. The company had revenue of $20.57 million during the quarter, compared to the consensus estimate of $19.66 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. On average, equities analysts anticipate that CEVA will post $1.13 EPS for the current fiscal year.
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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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