BNP Paribas reissued their neutral rating on shares of CEVA (NASDAQ:CEVA) in a research note released on Wednesday morning, BenzingaRatingsTable reports.

A number of other brokerages have also recently weighed in on CEVA. BidaskClub raised CEVA from a hold rating to a buy rating in a report on Saturday, April 13th. ValuEngine cut CEVA from a buy rating to a hold rating in a report on Monday, February 4th. Cowen decreased their price objective on CEVA from $35.00 to $33.00 and set an outperform rating on the stock in a report on Thursday, February 14th. Northland Securities cut CEVA from an outperform rating to a market perform rating and set a $27.00 price objective on the stock. in a report on Thursday, February 14th. Finally, Canaccord Genuity reissued a buy rating and set a $35.00 price objective (down from $41.00) on shares of CEVA in a report on Wednesday, February 13th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $33.43.

NASDAQ:CEVA opened at $23.30 on Wednesday. The stock has a market capitalization of $511.97 million, a price-to-earnings ratio of 211.82 and a beta of 1.74. CEVA has a twelve month low of $20.40 and a twelve month high of $36.80.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.08. The company had revenue of $21.40 million for the quarter, compared to analysts’ expectations of $22.07 million. CEVA had a return on equity of 1.00% and a net margin of 0.74%. CEVA’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. As a group, equities research analysts forecast that CEVA will post -0.08 earnings per share for the current year.

In related news, EVP Issachar Ohana sold 6,670 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.00, for a total transaction of $186,760.00. Following the transaction, the executive vice president now directly owns 34,616 shares of the company’s stock, valued at approximately $969,248. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CEVA. Penserra Capital Management LLC increased its stake in CEVA by 43.6% in the 4th quarter. Penserra Capital Management LLC now owns 1,761 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 535 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in CEVA in the 4th quarter worth approximately $138,000. Metropolitan Life Insurance Co. NY increased its stake in CEVA by 371.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,928 shares of the semiconductor company’s stock worth $153,000 after purchasing an additional 5,460 shares during the period. Van ECK Associates Corp increased its stake in CEVA by 18.7% in the 4th quarter. Van ECK Associates Corp now owns 8,100 shares of the semiconductor company’s stock worth $179,000 after purchasing an additional 1,277 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new position in CEVA in the 4th quarter worth approximately $184,000. 88.58% of the stock is currently owned by institutional investors and hedge funds.

CEVA Company Profile

CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of Things (IoT) markets worldwide. The company licenses a family of programmable digital signal processor (DSP) cores and application-specific platforms for imaging, computer vision, deep learning, sound, voice, and audio processing; and long range wireless technologies for LTE/5G baseband processing in IoT, handsets, and infrastructure, as well as short range wireless platforms for Wi-Fi and Bluetooth.

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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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