Wall Street Zen downgraded shares of Ceva (NASDAQ:CEVA – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.
Other research analysts have also issued research reports about the stock. Stifel Nicolaus increased their price target on shares of Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Benchmark raised shares of Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Friday, October 2nd. Needham & Company LLC lowered their target price on shares of Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, TD Cowen cut their target price on Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.60.
View Our Latest Research Report on CEVA
Ceva Stock Down 0.5%
Ceva (NASDAQ:CEVA – Get Free Report) last released its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $29.03 million during the quarter, compared to analysts’ expectations of $28.19 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. On average, equities research analysts expect that Ceva will post -0.17 earnings per share for the current fiscal year.
Institutional Trading of Ceva
Several hedge funds have recently added to or reduced their stakes in CEVA. Global Retirement Partners LLC acquired a new position in shares of Ceva during the second quarter worth approximately $49,000. Integrated Wealth Concepts LLC bought a new position in shares of Ceva during the 2nd quarter worth about $52,000. Sanctuary Advisors LLC raised its position in shares of Ceva by 7.6% during the first quarter. Sanctuary Advisors LLC now owns 11,003 shares of the semiconductor company’s stock valued at $206,000 after buying an additional 773 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Ceva in the second quarter valued at about $343,000. Finally, Arizona State Retirement System bought a new stake in shares of Ceva in the second quarter valued at about $352,000. Institutional investors own 85.37% of the company’s stock.
Ceva Company Profile
CEVA, Inc is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and sensing technologies. Its products are designed for integration into system-on-chip devices used in mobile, consumer, automotive, industrial and Internet of Things applications.
The company’s portfolio includes digital signal processors and specialized processor architectures for artificial intelligence, computer vision, audio, imaging and communications. CEVA also offers intellectual property for wireless technologies such as 5G, Wi-Fi, Bluetooth and ultra-wideband, as well as platforms supporting sensor fusion and edge computing.
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