CEVA (CEVA) Upgraded to “Buy” at ValuEngine

CEVA (NASDAQ:CEVA) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.

CEVA has been the subject of a number of other research reports. Zacks Investment Research raised shares of CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BidaskClub raised shares of CEVA from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Canaccord Genuity lifted their target price on shares of CEVA from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Roth Capital cut their target price on shares of CEVA from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. Finally, Barclays cut their target price on shares of CEVA from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $38.67.

NASDAQ:CEVA traded up $1.36 during trading hours on Thursday, reaching $26.00. The company had a trading volume of 149,618 shares, compared to its average volume of 158,045. CEVA has a 52 week low of $23.01 and a 52 week high of $51.80. The company has a market cap of $529.86 million, a PE ratio of 32.50, a price-to-earnings-growth ratio of 17.18 and a beta of 1.11.

CEVA (NASDAQ:CEVA) last posted its earnings results on Tuesday, August 7th. The semiconductor company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). CEVA had a return on equity of 2.43% and a net margin of 5.87%. The company had revenue of $17.49 million during the quarter, compared to the consensus estimate of $18.95 million. As a group, equities analysts predict that CEVA will post 0.07 earnings per share for the current year.

In other news, Director Maria Marced sold 2,770 shares of CEVA stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $29.50, for a total transaction of $81,715.00. 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.

Several institutional investors have recently modified their holdings of CEVA. Piedmont Investment Advisors LLC purchased a new position in shares of CEVA during the 2nd quarter worth $156,000. SG Americas Securities LLC purchased a new position in shares of CEVA during the 2nd quarter valued at $192,000. WINTON GROUP Ltd purchased a new position in shares of CEVA during the 1st quarter valued at $203,000. GSA Capital Partners LLP purchased a new position in shares of CEVA during the 2nd quarter valued at $221,000. Finally, BlueMountain Capital Management LLC lifted its stake in shares of CEVA by 93.6% during the 2nd quarter. BlueMountain Capital Management LLC now owns 8,689 shares of the semiconductor company’s stock valued at $262,000 after buying an additional 4,201 shares in the last quarter. Institutional investors and hedge funds own 86.58% of the company’s stock.

About CEVA

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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