CEVA (NASDAQ:CEVA) had its price target dropped by stock analysts at Barclays from $40.00 to $35.00 in a research note issued to investors on Wednesday. The firm currently has an “overweight” rating on the semiconductor company’s stock. Barclays’ price target would suggest a potential upside of 18.24% from the stock’s previous close.
Several other equities research analysts have also commented on the stock. Canaccord Genuity restated a “buy” rating and issued a $36.00 price target on shares of CEVA in a report on Tuesday. BidaskClub lowered shares of CEVA from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Zacks Investment Research upgraded shares of CEVA from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Northland Securities began coverage on shares of CEVA in a research note on Tuesday, June 5th. They set an “outperform” rating and a $39.00 price objective for the company. Finally, Cowen began coverage on shares of CEVA in a research note on Thursday, May 17th. They set an “outperform” rating and a $43.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $39.43.
CEVA traded down $0.10 on Wednesday, reaching $29.60. 1,385 shares of the company traded hands, compared to its average volume of 139,306. CEVA has a one year low of $26.10 and a one year high of $51.80. The firm has a market capitalization of $613.30 million, a price-to-earnings ratio of 36.75, a PEG ratio of 4.31 and a beta of 1.06.
In other news, EVP Issachar Ohana sold 1,500 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $34.00, for a total value of $51,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its holdings in CEVA by 813.1% during the first quarter. Quantbot Technologies LP now owns 3,351 shares of the semiconductor company’s stock worth $121,000 after buying an additional 2,984 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in CEVA during the second quarter worth $156,000. WINTON GROUP Ltd purchased a new stake in CEVA during the first quarter worth $203,000. Victory Capital Management Inc. boosted its holdings in CEVA by 37.1% during the first quarter. Victory Capital Management Inc. now owns 5,746 shares of the semiconductor company’s stock worth $208,000 after buying an additional 1,555 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in CEVA during the second quarter worth $192,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.
CEVA Company Profile
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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