Ceva Inc. (NASDAQ:CEVA) has received an average rating of “Buy” from the eleven research firms that are presently covering the company. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $32.44.
A number of research analysts recently issued reports on the company. Roth Capital assumed coverage on Ceva in a report on Wednesday, September 28th. They set a “buy” rating and a $40.00 price objective for the company. Benchmark Co. set a $36.00 price objective on Ceva and gave the stock a “buy” rating in a report on Wednesday, September 28th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $37.00 price objective (up from $32.00) on shares of Ceva in a report on Friday, August 5th. Wunderlich increased their price objective on Ceva from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded Ceva from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th.
In other Ceva news, CEO Gideon Wertheizer sold 43,342 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $31.41, for a total transaction of $1,361,372.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce Mann sold 1,796 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $31.85, for a total value of $57,202.60. Following the transaction, the director now directly owns 9,678 shares of the company’s stock, valued at $308,244.30. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of Ceva by 1.0% in the second quarter. Arizona State Retirement System now owns 10,586 shares of the company’s stock valued at $288,000 after buying an additional 100 shares during the period. BlackRock Advisors LLC raised its position in shares of Ceva by 3.0% in the second quarter. BlackRock Advisors LLC now owns 10,150 shares of the company’s stock valued at $276,000 after buying an additional 296 shares during the period. Teachers Advisors Inc. raised its position in shares of Ceva by 0.9% in the second quarter. Teachers Advisors Inc. now owns 32,915 shares of the company’s stock valued at $894,000 after buying an additional 299 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Ceva by 5.4% in the second quarter. Thrivent Financial for Lutherans now owns 9,900 shares of the company’s stock valued at $269,000 after buying an additional 510 shares during the period. Finally, Uniplan Investment Counsel Inc. raised its position in shares of Ceva by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 234,839 shares of the company’s stock valued at $5,284,000 after buying an additional 816 shares during the period. 87.67% of the stock is owned by institutional investors and hedge funds.
Ceva (NASDAQ:CEVA) opened at 31.47 on Tuesday. Ceva has a one year low of $17.10 and a one year high of $36.81. The stock’s 50 day moving average price is $33.21 and its 200-day moving average price is $28.35. The firm has a market capitalization of $659.61 million, a price-to-earnings ratio of 65.56 and a beta of 0.97.
Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The company had revenue of $17.10 million for the quarter, compared to analyst estimates of $17.02 million. Ceva had a return on equity of 5.87% and a net margin of 15.36%. Ceva’s revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. On average, equities research analysts expect that Ceva will post $0.83 EPS for the current fiscal year.
Ceva Company Profile
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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