CEVA (NASDAQ:CEVA) Upgraded by Northland Securities to “Outperform”

CEVA (NASDAQ:CEVA) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Price Targets.com reports. The firm currently has a $58.00 target price on the semiconductor company’s stock, down from their previous target price of $78.00. Northland Securities’ price objective would indicate a potential upside of 36.57% from the company’s previous close.

Several other analysts have also commented on the company. Zacks Investment Research lowered CEVA from a “buy” rating to a “hold” rating in a report on Monday, February 22nd. Cowen increased their price target on CEVA from $62.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 17th. Roth Capital cut their price target on CEVA from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. They noted that the move was a valuation call. Finally, Barclays raised their target price on CEVA from $42.00 to $64.00 and gave the company an “equal weight” rating in a research report on Thursday, February 18th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $60.00.

NASDAQ:CEVA opened at $42.47 on Tuesday. CEVA has a 12 month low of $29.50 and a 12 month high of $83.95. The business’s 50-day moving average is $55.46 and its 200 day moving average is $52.09. The company has a market capitalization of $968.78 million, a P/E ratio of 4,247.00, a P/E/G ratio of 23.97 and a beta of 1.18.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Sunday, May 9th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). CEVA had a return on equity of 1.26% and a net margin of 0.05%. The firm had revenue of $25.40 million during the quarter, compared to the consensus estimate of $24.01 million. During the same period last year, the company earned $0.11 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts predict that CEVA will post -0.09 earnings per share for the current year.

In other news, COO Michael Boukaya sold 1,941 shares of the stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $67.58, for a total value of $131,172.78. Following the sale, the chief operating officer now directly owns 54,097 shares in the company, valued at $3,655,875.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Yaniv Arieli sold 30,395 shares of the stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $68.20, for a total transaction of $2,072,939.00. The disclosure for this sale can be found here. Insiders sold 107,343 shares of company stock valued at $7,392,417 over the last ninety days. Corporate insiders own 3.81% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. purchased a new position in CEVA during the fourth quarter worth approximately $277,000. Centaurus Financial Inc. grew its holdings in CEVA by 4.5% during the 4th quarter. Centaurus Financial Inc. now owns 15,250 shares of the semiconductor company’s stock worth $694,000 after acquiring an additional 650 shares in the last quarter. Strs Ohio grew its holdings in CEVA by 12.7% during the 4th quarter. Strs Ohio now owns 20,400 shares of the semiconductor company’s stock worth $928,000 after acquiring an additional 2,300 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in CEVA by 40.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 400 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in shares of CEVA by 1.6% in the 4th quarter. Congress Asset Management Co. MA now owns 211,351 shares of the semiconductor company’s stock valued at $9,616,000 after buying an additional 3,308 shares during the period. 85.90% of the stock is currently owned by institutional investors and hedge funds.

About CEVA

CEVA, Inc operates as a licensor of wireless connectivity and smart sensing platforms to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI).

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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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