Investment analysts at Roth Capital started coverage on shares of Ceva Inc. (NASDAQ:CEVA) in a research report issued on Wednesday. The brokerage set a “buy” rating and a $40.00 price target on the stock. Roth Capital’s price objective would indicate a potential upside of 13.77% from the stock’s current price.
CEVA has been the subject of several other reports. Zacks Investment Research lowered shares of Ceva from a “buy” rating to a “sell” rating in a research note on Tuesday, July 12th. Wunderlich increased their target price on shares of Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Benchmark Co. set a $36.00 price target on shares of Ceva and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer Holdings Inc. restated 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. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Ceva has a consensus rating of “Buy” and an average price target of $32.20.
Ceva (NASDAQ:CEVA) opened at 35.16 on Wednesday. The company’s 50 day moving average is $32.26 and its 200 day moving average is $27.45. The firm has a market cap of $736.95 million, a price-to-earnings ratio of 73.25 and a beta of 1.01. Ceva has a 12-month low of $17.11 and a 12-month high of $36.81.
Ceva (NASDAQ:CEVA) last released its earnings results on Wednesday, August 3rd. The company reported $0.21 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 business earned $17.10 million during the quarter, compared to analyst estimates of $17.02 million. During the same period in the prior year, the business earned $0.06 earnings per share. The business’s quarterly revenue was up 27.6% on a year-over-year basis. On average, equities analysts anticipate that Ceva will post $0.83 earnings per share for the current year.
In other news, CEO Gideon Wertheizer sold 43,342 shares of the stock in a transaction on Monday, August 8th. The shares were 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 SEC, which is accessible through the SEC website. Also, major shareholder Senvest Management, Llc sold 155,100 shares of the stock in a transaction on Friday, July 22nd. The stock was 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. Insiders own 4.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC acquired a new position in shares of Ceva during the second quarter valued at approximately $109,000. Royal Bank of Canada purchased a new stake in Ceva during the second quarter valued at about $1,592,000. Schwab Charles Investment Management Inc. increased its stake in Ceva by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,912 shares of the company’s stock valued at $2,063,000 after buying an additional 8,224 shares in the last quarter. Candlewood Investment Group LP purchased a new stake in Ceva during the second quarter valued at about $567,000. Finally, Arizona State Retirement System increased its stake in 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 in the last quarter. Institutional investors own 87.67% of the company’s stock.
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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