Several other analysts have also recently commented on the company. Northland Securities cut CEVA from an outperform rating to a market perform rating and set a $27.00 target price on the stock. in a report on Thursday, February 14th. Canaccord Genuity reaffirmed a buy rating and set a $35.00 price target (down previously from $41.00) on shares of CEVA in a research note on Wednesday, February 13th. Cowen cut their price target on CEVA from $35.00 to $33.00 and set an outperform rating on the stock in a research note on Thursday, February 14th. Finally, ValuEngine lowered CEVA from a strong-buy rating to a buy rating in a research note on Wednesday, January 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $33.43.
Shares of CEVA stock opened at $27.78 on Friday. The firm has a market cap of $610.33 million, a PE ratio of 252.55 and a beta of 1.74. CEVA has a 52 week low of $20.40 and a 52 week high of $37.65.
CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, February 13th. The semiconductor company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.15 by $0.08. The company had revenue of $21.40 million for the quarter, compared to analysts’ expectations of $22.07 million. CEVA had a return on equity of 1.00% and a net margin of 0.74%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, research analysts expect that CEVA will post -0.08 EPS for the current fiscal year.
In other news, EVP Issachar Ohana sold 6,670 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $28.00, for a total transaction of $186,760.00. Following the transaction, the executive vice president now owns 34,616 shares of the company’s stock, valued at $969,248. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new position in CEVA in the first quarter valued at about $221,000. Campbell Newman Asset Management Inc. lifted its stake in CEVA by 2.5% in the first quarter. Campbell Newman Asset Management Inc. now owns 21,798 shares of the semiconductor company’s stock valued at $588,000 after buying an additional 522 shares during the period. Roubaix Capital LLC acquired a new position in CEVA in the first quarter valued at about $2,887,000. Deutsche Bank AG lifted its stake in CEVA by 90.3% in the fourth quarter. Deutsche Bank AG now owns 88,504 shares of the semiconductor company’s stock valued at $1,953,000 after buying an additional 41,993 shares during the period. Finally, Geode Capital Management LLC lifted its stake in CEVA by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 245,934 shares of the semiconductor company’s stock valued at $5,432,000 after buying an additional 7,156 shares during the period. 88.58% of the stock is currently owned by hedge funds and other institutional investors.
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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