ValuEngine cut shares of CEVA (NASDAQ:CEVA) from a buy rating to a hold rating in a report published on Monday, February 4th.
Several other analysts have also recently commented on the company. BidaskClub upgraded CEVA from a sell rating to a hold rating in a research report on Thursday, January 17th. Zacks Investment Research lowered CEVA from a strong-buy rating to a hold rating in a research note on Thursday, November 15th. Finally, Canaccord Genuity boosted their price objective on CEVA from $36.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday, October 16th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. CEVA has a consensus rating of Buy and a consensus price target of $33.43.
Shares of CEVA stock traded up $0.47 on Monday, reaching $28.29. The company’s stock had a trading volume of 91,968 shares, compared to its average volume of 131,288. The stock has a market capitalization of $639.98 million, a PE ratio of 257.18 and a beta of 1.76. CEVA has a 52-week low of $20.40 and a 52-week high of $41.50.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.08. CEVA had a return on equity of 1.00% and a net margin of 0.74%. The business had revenue of $21.40 million during the quarter, compared to analysts’ expectations of $22.07 million. During the same period in the previous year, the business earned $0.25 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. Equities analysts forecast that CEVA will post -0.08 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in CEVA. Dimensional Fund Advisors LP lifted its stake in shares of CEVA by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 638,973 shares of the semiconductor company’s stock valued at $19,297,000 after purchasing an additional 5,082 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in CEVA by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 467,686 shares of the semiconductor company’s stock worth $14,123,000 after acquiring an additional 12,657 shares in the last quarter. Northern Trust Corp lifted its stake in CEVA by 1.9% during the 2nd quarter. Northern Trust Corp now owns 298,247 shares of the semiconductor company’s stock worth $9,007,000 after acquiring an additional 5,441 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in CEVA by 16.3% during the 3rd quarter. Rice Hall James & Associates LLC now owns 748,771 shares of the semiconductor company’s stock worth $21,527,000 after acquiring an additional 104,768 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in CEVA by 27.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 22,935 shares of the semiconductor company’s stock worth $659,000 after acquiring an additional 4,977 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.
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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