CEVA (NASDAQ:CEVA) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
CEVA has been the subject of a number of other reports. Barclays set a $40.00 price target on CEVA and gave the company a “buy” rating in a research report on Thursday, May 10th. ValuEngine upgraded CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, May 15th. Oppenheimer lowered 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. UBS lowered CEVA from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. Finally, Cowen assumed coverage on CEVA in a research report on Thursday, May 17th. They issued an “outperform” rating and a $43.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. CEVA currently has a consensus rating of “Buy” and an average target price of $43.83.
CEVA stock opened at $33.80 on Tuesday. The company has a market capitalization of $749.96 million, a PE ratio of 42.25, a P/E/G ratio of 4.96 and a beta of 0.91. CEVA has a 1 year low of $27.35 and a 1 year high of $51.80.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, May 9th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $17.57 million during the quarter, compared to analysts’ expectations of $18.83 million. CEVA had a net margin of 12.82% and a return on equity of 4.97%. CEVA’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. sell-side analysts predict that CEVA will post 0.34 EPS for the current fiscal year.
In related news, EVP Issachar Ohana sold 768 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $41.50, for a total value of $31,872.00. Following the completion of the transaction, the executive vice president now directly owns 27,929 shares in the company, valued at $1,159,053.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of CEVA. Wells Fargo & Company MN grew its position in CEVA by 46.0% in the third quarter. Wells Fargo & Company MN now owns 25,542 shares of the semiconductor company’s stock worth $1,093,000 after acquiring an additional 8,043 shares during the period. Schwab Charles Investment Management Inc. grew its position in CEVA by 3.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 108,665 shares of the semiconductor company’s stock worth $5,015,000 after acquiring an additional 3,326 shares during the period. Campbell Newman Asset Management Inc. grew its position in CEVA by 22.5% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 16,526 shares of the semiconductor company’s stock worth $763,000 after acquiring an additional 3,031 shares during the period. Assenagon Asset Management S.A. purchased a new position in CEVA in the fourth quarter worth approximately $2,057,000. Finally, Congress Asset Management Co. MA grew its position in CEVA by 10.0% in the fourth quarter. Congress Asset Management Co. MA now owns 171,625 shares of the semiconductor company’s stock worth $7,920,000 after acquiring an additional 15,636 shares during the period. Institutional investors own 86.45% of the company’s stock.
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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