Brokerages Set CEVA, Inc. (NASDAQ:CEVA) PT at $59.83

CEVA, Inc. (NASDAQ:CEVA) has been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $59.83.

CEVA has been the topic of a number of recent research reports. Zacks Investment Research raised shares of CEVA from a “sell” rating to a “hold” rating in a research report on Wednesday, June 30th. Barclays raised shares of CEVA from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $64.00 to $56.00 in a research report on Tuesday, May 11th. Rosenblatt Securities initiated coverage on shares of CEVA in a research report on Tuesday, June 22nd. They issued a “neutral” rating and a $50.00 target price on the stock. Cowen reduced their target price on shares of CEVA from $88.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 11th. Finally, Roth Capital reduced their target price on shares of CEVA from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, May 10th. They noted that the move was a valuation call.

Shares of CEVA stock opened at $44.09 on Monday. The firm’s fifty day moving average is $44.42. CEVA has a 12-month low of $35.62 and a 12-month high of $83.95.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Sunday, May 9th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.05). The company had revenue of $25.40 million for the quarter, compared to analysts’ expectations of $24.01 million. CEVA had a negative net margin of 4.72% and a negative return on equity of 0.76%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, equities research analysts predict that CEVA will post 0.02 earnings per share for the current year.

In related news, COO Michael Boukaya sold 2,331 shares of the company’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $43.56, for a total value of $101,538.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CEVA. Rhumbline Advisers lifted its stake in CEVA by 3.5% during the 4th quarter. Rhumbline Advisers now owns 64,211 shares of the semiconductor company’s stock valued at $2,922,000 after acquiring an additional 2,188 shares during the period. Citigroup Inc. lifted its stake in CEVA by 69.0% during the 4th quarter. Citigroup Inc. now owns 16,921 shares of the semiconductor company’s stock valued at $770,000 after acquiring an additional 6,909 shares during the period. Credit Suisse AG lifted its stake in CEVA by 70.4% during the 4th quarter. Credit Suisse AG now owns 23,555 shares of the semiconductor company’s stock valued at $1,073,000 after acquiring an additional 9,730 shares during the period. The Manufacturers Life Insurance Company lifted its stake in CEVA by 2.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 13,086 shares of the semiconductor company’s stock valued at $595,000 after acquiring an additional 265 shares during the period. Finally, Vantage Consulting Group Inc bought a new position in CEVA during the 4th quarter valued at about $77,000. Institutional investors and hedge funds own 78.71% of the company’s stock.

About CEVA

CEVA, Inc operates as a licensor of wireless connectivity and smart sensing platforms to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI).

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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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