Ceva Inc. (NASDAQ:CEVA) – Equities research analysts at Roth Capital issued their Q3 2016 EPS estimates for shares of Ceva in a report issued on Wednesday. Roth Capital analyst S. Desilva forecasts that the brokerage will post earnings per share of $0.14 for the quarter. Roth Capital currently has a “Buy” rating and a $40.00 target price on the stock. Roth Capital also issued estimates for Ceva’s Q4 2016 earnings at $0.11 EPS and FY2016 earnings at $0.48 EPS.
CEVA has been the topic of several other research reports. Zacks Investment Research downgraded Ceva from a “buy” rating to a “sell” rating in a report on Tuesday, July 12th. Wunderlich boosted their price objective on Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 19th. Benchmark Co. set a $36.00 price objective on Ceva and gave the company a “buy” rating in a report on Wednesday, September 28th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $37.00 price objective (up previously from $32.00) on shares of Ceva in a report 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. The company presently has an average rating of “Buy” and an average target price of $32.20.
Shares of Ceva (NASDAQ:CEVA) opened at 35.36 on Monday. The firm has a market cap of $741.15 million, a P/E ratio of 73.67 and a beta of 0.97. The firm has a 50-day moving average price of $32.61 and a 200 day moving average price of $27.85. Ceva has a one year low of $17.11 and a one year high of $36.81.
Ceva (NASDAQ:CEVA) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The business earned $17.10 million during the quarter, compared to the consensus estimate of $17.02 million. Ceva had a return on equity of 5.87% and a net margin of 15.36%. The company’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share.
In other 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 transaction of $1,361,372.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce Mann sold 1,796 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was 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. Company insiders own 4.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its position 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. BlackRock Advisors LLC boosted its position in 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 in the last quarter. Teachers Advisors Inc. boosted its position in 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 in the last quarter. Thrivent Financial for Lutherans boosted its position in 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in Ceva by 0.5% in the first quarter. Geode Capital Management LLC now owns 132,401 shares of the company’s stock valued at $2,979,000 after buying an additional 681 shares in the last quarter. 87.67% of the stock is owned by institutional investors and hedge funds.
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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