Several other brokerages also recently commented on CEVA. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $37.00 target price (up from $32.00) on shares of Ceva in a report on Friday, August 5th. Wunderlich upped their target price on Ceva from $30.00 to $33.00 and gave the company a buy rating in a report on Tuesday, July 19th. Finally, Zacks Investment Research raised Ceva from a sell rating to a hold rating in a report on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $32.20.
Shares of Ceva (NASDAQ:CEVA) opened at 35.07 on Wednesday. Ceva has a one year low of $17.11 and a one year high of $36.81. The stock’s 50 day moving average price is $32.37 and its 200-day moving average price is $27.55. The stock has a market cap of $735.07 million, a PE ratio of 73.06 and a beta of 0.97.
Ceva (NASDAQ:CEVA) last announced 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 return on equity of 5.87% and a net margin of 15.36%. The business earned $17.10 million during the quarter, compared to the consensus estimate of $17.02 million. During the same period in the prior year, the business posted $0.06 earnings per share. Ceva’s revenue was up 27.6% compared to the same quarter last year. On average, equities analysts predict that Ceva will post $0.83 earnings per share for the current fiscal year.
In other Ceva news, CEO Gideon Wertheizer sold 43,342 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $31.41, for a total value of $1,361,372.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Senvest Management, Llc sold 155,100 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $29.40, for a total value of $4,559,940.00. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CEVA. Mason Street Advisors LLC purchased a new position in shares of Ceva during the second quarter valued at $109,000. BNP Paribas Arbitrage SA raised its position in shares of Ceva by 107.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,350 shares of the company’s stock worth $173,000 after buying an additional 3,283 shares in the last quarter. Arizona State Retirement System raised its position in shares of Ceva by 5.0% in the first quarter. Arizona State Retirement System now owns 10,486 shares of the company’s stock worth $236,000 after buying an additional 500 shares in the last quarter. KBC Group NV raised its position in shares of Ceva by 366.4% in the second quarter. KBC Group NV now owns 8,768 shares of the company’s stock worth $238,000 after buying an additional 6,888 shares in the last quarter. Finally, Capstone Asset Management Co. bought a new position in shares of Ceva during the second quarter worth approximately $250,000. 87.67% of the stock is currently owned by institutional investors.
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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