CEVA’s (NASDAQ:CEVA) “Buy” Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of CEVA (NASDAQ:CEVA) in a research note released on Tuesday, August 7th. The brokerage currently has a $36.00 price target on the semiconductor company’s stock.

Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of CEVA from a hold rating to a sell rating in a report on Friday, July 27th. Zacks Investment Research upgraded shares of CEVA from a sell rating to a hold rating in a research report on Tuesday, July 10th. Northland Securities assumed coverage on shares of CEVA in a research report on Tuesday, June 5th. They set an outperform rating and a $39.00 price objective on the stock. Cowen assumed coverage on shares of CEVA in a report on Thursday, May 17th. They issued an outperform rating and a $43.00 price target on the stock. Finally, ValuEngine upgraded shares of CEVA from a sell rating to a hold rating in a report on Tuesday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. CEVA currently has a consensus rating of Hold and a consensus price target of $39.43.

CEVA stock traded down $0.05 during trading on Tuesday, reaching $30.60. The company had a trading volume of 110,000 shares, compared to its average volume of 168,141. CEVA has a 52 week low of $26.10 and a 52 week high of $51.80. The company has a market cap of $667.55 million, a P/E ratio of 38.69, a PEG ratio of 21.64 and a beta of 1.06.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.07). CEVA had a net margin of 5.87% and a return on equity of 2.43%. The firm had revenue of $17.49 million for the quarter, compared to analysts’ expectations of $18.95 million. equities research analysts anticipate that CEVA will post 0.07 earnings per share for the current year.

In related news, Director Maria Marced sold 2,770 shares of CEVA stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CEVA. Bank of New York Mellon Corp boosted its position in CEVA by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 467,686 shares of the semiconductor company’s stock valued at $14,123,000 after buying an additional 12,657 shares during the period. Granahan Investment Management Inc. MA boosted its position in CEVA by 30.7% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 152,385 shares of the semiconductor company’s stock valued at $4,602,000 after buying an additional 35,766 shares during the period. Herald Investment Management Ltd boosted its position in CEVA by 6.3% in the 2nd quarter. Herald Investment Management Ltd now owns 338,382 shares of the semiconductor company’s stock valued at $10,219,000 after buying an additional 20,000 shares during the period. First Republic Investment Management Inc. boosted its position in CEVA by 28.4% in the 2nd quarter. First Republic Investment Management Inc. now owns 10,954 shares of the semiconductor company’s stock valued at $331,000 after buying an additional 2,423 shares during the period. Finally, Senvest Management LLC boosted its position in CEVA by 5.7% in the 2nd quarter. Senvest Management LLC now owns 460,101 shares of the semiconductor company’s stock valued at $13,895,000 after buying an additional 24,700 shares during the period. 87.15% of the stock is owned by hedge funds and other institutional investors.

About CEVA

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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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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