CEVA (NASDAQ:CEVA) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Wednesday.
A number of other analysts have also recently commented on the company. Canaccord Genuity began coverage on CEVA in a research report on Friday, February 9th. They set a “buy” rating and a $50.00 price objective for the company. Barclays reduced their price objective on CEVA from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. BidaskClub cut CEVA from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Zacks Investment Research cut CEVA from a “hold” rating to a “strong sell” rating in a research report on Friday, January 26th. Finally, Oppenheimer cut CEVA from an “outperform” rating to a “hold” rating in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. CEVA currently has an average rating of “Hold” and a consensus price target of $47.57.
CEVA (NASDAQ CEVA) traded up $0.50 during trading on Wednesday, reaching $36.10. The company had a trading volume of 146,600 shares, compared to its average volume of 238,309. The stock has a market capitalization of $782.31, a PE ratio of 47.50, a PEG ratio of 2.80 and a beta of 0.72. CEVA has a 12 month low of $32.80 and a 12 month high of $51.80.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. The company had revenue of $21.60 million during the quarter, compared to analysts’ expectations of $21.17 million. CEVA had a return on equity of 7.82% and a net margin of 19.46%. CEVA’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. equities analysts predict that CEVA will post 0.63 EPS for the current fiscal year.
In other CEVA news, Director Sven Christer Nilsson sold 27,285 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $47.50, for a total transaction of $1,296,037.50. Following the completion of the sale, the director now owns 28,282 shares of the company’s stock, valued at $1,343,395. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Yaniv Arieli sold 8,614 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $49.25, for a total value of $424,239.50. Following the sale, the chief financial officer now directly owns 40,372 shares of the company’s stock, valued at approximately $1,988,321. The disclosure for this sale can be found here. Insiders have sold 58,467 shares of company stock valued at $2,834,039 in the last three months. 3.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in CEVA by 2.7% during the fourth quarter. BlackRock Inc. now owns 2,793,672 shares of the semiconductor company’s stock valued at $128,927,000 after purchasing an additional 74,613 shares during the period. Vanguard Group Inc. boosted its stake in shares of CEVA by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,983,620 shares of the semiconductor company’s stock worth $90,155,000 after acquiring an additional 53,209 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CEVA by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 617,663 shares of the semiconductor company’s stock worth $26,436,000 after acquiring an additional 13,633 shares during the period. Ranger Investment Management L.P. boosted its stake in shares of CEVA by 7.7% in the fourth quarter. Ranger Investment Management L.P. now owns 602,256 shares of the semiconductor company’s stock worth $27,794,000 after acquiring an additional 42,812 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake in shares of CEVA by 17.8% in the third quarter. Pictet Asset Management Ltd. now owns 599,428 shares of the semiconductor company’s stock worth $25,656,000 after acquiring an additional 90,690 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.
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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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