BidaskClub upgraded shares of CEVA (NASDAQ:CEVA) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday.
CEVA has been the subject of a number of other reports. Zacks Investment Research raised shares of CEVA from a sell rating to a hold rating in a research report on Tuesday, July 10th. Roth Capital reduced their price objective on shares of CEVA from $44.00 to $35.00 and set a buy rating for the company in a research report on Wednesday, August 8th. Barclays reduced their price objective on shares of CEVA from $40.00 to $35.00 and set an overweight rating for the company in a research report on Wednesday, August 8th. Canaccord Genuity reaffirmed a buy rating and issued a $36.00 price objective on shares of CEVA in a research report on Tuesday, August 7th. Finally, ValuEngine raised shares of CEVA from a hold rating to a buy rating in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $38.67.
Shares of CEVA traded down $2.66 on Wednesday, reaching $26.69. The company’s stock had a trading volume of 204,356 shares, compared to its average volume of 131,552. CEVA has a twelve month low of $23.01 and a twelve month high of $51.80. The firm has a market capitalization of $561.36 million, a PE ratio of 33.36, a P/E/G ratio of 18.20 and a beta of 1.38.
CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, November 8th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. CEVA had a net margin of 5.87% and a return on equity of 2.43%. The company had revenue of $21.40 million for the quarter, compared to analyst estimates of $21.37 million. During the same quarter in the prior year, the business posted $0.36 EPS. The firm’s revenue was down 10.8% compared to the same quarter last year. Sell-side analysts predict that CEVA will post 0.07 earnings per share for the current fiscal year.
In other news, Director Maria Marced sold 2,770 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $29.50, for a total transaction of $81,715.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board bought a new position in shares of CEVA during the 3rd quarter valued at approximately $415,000. BlackRock Inc. grew its position in shares of CEVA by 3.6% during the 3rd quarter. BlackRock Inc. now owns 3,236,000 shares of the semiconductor company’s stock valued at $93,033,000 after acquiring an additional 113,545 shares during the period. Bank of New York Mellon Corp grew its position in shares of CEVA by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 500,589 shares of the semiconductor company’s stock valued at $14,392,000 after acquiring an additional 32,903 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of CEVA by 31.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 40,320 shares of the semiconductor company’s stock valued at $1,159,000 after acquiring an additional 9,550 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in shares of CEVA by 4.7% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 304,798 shares of the semiconductor company’s stock valued at $8,763,000 after acquiring an additional 13,652 shares during the period. 87.08% of the stock is owned by hedge funds and other institutional investors.
CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of Things (IoT) markets worldwide. The company licenses a family of programmable digital signal processor (DSP) cores and application-specific platforms for imaging, computer vision, deep learning, sound, voice, and audio processing; and long range wireless technologies for LTE/5G baseband processing in IoT, handsets, and infrastructure, as well as short range wireless platforms for Wi-Fi and Bluetooth.
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