CEVA has been the topic of several other reports. Zacks Investment Research downgraded shares of Ceva from a buy rating to a sell rating in a research note on Tuesday, July 12th. Wunderlich lifted their target price on shares of Ceva from $30.00 to $33.00 and gave the stock a buy rating in a research note on Tuesday, July 19th. Benchmark Co. reaffirmed a buy rating and issued a $36.00 target price on shares of Ceva in a research note on Wednesday. Finally, Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $37.00 target price (up from $32.00) on shares of Ceva in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Ceva presently has a consensus rating of Buy and a consensus price target of $32.20.
Ceva (NASDAQ:CEVA) opened at 35.24 on Wednesday. The company has a market capitalization of $738.63 million, a price-to-earnings ratio of 73.42 and a beta of 1.01. The firm has a 50 day moving average of $32.16 and a 200-day moving average of $27.39. Ceva has a 1-year low of $17.11 and a 1-year high of $36.81.
Ceva (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $17.10 million for the quarter, compared to the consensus estimate of $17.02 million. Ceva had a net margin of 15.36% and a return on equity of 5.87%. The business’s revenue was up 27.6% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. On average, equities research analysts anticipate that Ceva will post $0.84 earnings per share for the current fiscal year.
In other news, Director Bruce Mann sold 24,204 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $31.85, for a total transaction of $770,897.40. Following the sale, the director now owns 32,086 shares in the company, valued at approximately $1,021,939.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gideon Wertheizer sold 43,342 shares of the business’s 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 disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Mason Street Advisors LLC acquired a new stake in shares of Ceva during the second quarter worth approximately $109,000. Royal Bank of Canada acquired a new stake in shares of Ceva during the second quarter worth approximately $1,592,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Ceva by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,912 shares of the company’s stock worth $2,063,000 after buying an additional 8,224 shares during the period. Candlewood Investment Group LP acquired a new stake in shares of Ceva during the second quarter worth approximately $567,000. Finally, Arizona State Retirement System boosted its stake 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 worth $288,000 after buying an additional 100 shares during the period. Hedge funds and other 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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