Ceva Inc. (NASDAQ:CEVA) has been assigned a $36.00 target price by Benchmark Co. in a report released on Wednesday. The firm presently has a a “buy” rating on the stock. Benchmark Co.’s price objective suggests a potential upside of 2.39% from the stock’s current price.
Several other equities analysts also recently issued reports on CEVA. Zacks Investment Research downgraded shares of Ceva from a “buy” rating to a “hold” rating in a report on Wednesday, June 8th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $37.00 price target (up previously from $32.00) on shares of Ceva in a report on Friday, August 5th. Finally, Wunderlich boosted their price target on shares of Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.20.
Shares of Ceva (NASDAQ:CEVA) opened at 35.16 on Wednesday. The firm has a market capitalization of $736.95 million, a PE ratio of 73.25 and a beta of 1.01. The firm’s 50 day moving average is $32.26 and its 200 day moving average is $27.45. Ceva has a 1-year low of $17.11 and a 1-year high of $36.81.
Ceva (NASDAQ:CEVA) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. Ceva had a net margin of 15.36% and a return on equity of 5.87%. The company earned $17.10 million during the quarter, compared to the consensus estimate of $17.02 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. Analysts anticipate that Ceva will post $0.83 EPS for the current fiscal year.
In related news, Director Bruce Mann sold 1,796 shares of Ceva stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $31.85, for a total transaction of $57,202.60. Following the sale, the director now directly owns 9,678 shares in the company, valued at $308,244.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Senvest Management, Llc sold 155,100 shares of Ceva stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $29.40, for a total transaction of $4,559,940.00. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
Large investors have recently modified their holdings of the stock. Prudential Financial Inc. boosted its stake in shares of Ceva by 2.8% in the first quarter. Prudential Financial Inc. now owns 48,543 shares of the company’s stock worth $1,092,000 after buying an additional 1,300 shares in the last quarter. Spark Investment Management LLC bought a new stake in shares of Ceva during the first quarter worth $747,000. Uniplan Investment Counsel Inc. boosted its stake 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 worth $5,284,000 after buying an additional 816 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ceva by 0.5% in the first quarter. Geode Capital Management LLC now owns 132,401 shares of the company’s stock worth $2,979,000 after buying an additional 681 shares in the last quarter. Finally, Friess Associates LLC bought a new stake in shares of Ceva during the first quarter worth $691,000. Institutional investors and hedge funds own 87.67% of the company’s stock.
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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