CEVA, Inc. (CEVA) Receives Average Rating of “Buy” from Analysts

Shares of CEVA, Inc. (NASDAQ:CEVA) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $34.17.

A number of research firms have recently commented on CEVA. ValuEngine lowered shares of CEVA from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Cowen dropped their price target on shares of CEVA from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday, February 14th. Northland Securities lowered shares of CEVA from an “outperform” rating to a “market perform” rating and set a $27.00 price target on the stock. in a research report on Thursday, February 14th. BidaskClub raised shares of CEVA from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $35.00 price target (down previously from $41.00) on shares of CEVA in a research report on Wednesday, February 13th.

In related news, EVP Issachar Ohana sold 6,670 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $28.00, for a total transaction of $186,760.00. Following the transaction, the executive vice president now owns 34,616 shares of the company’s stock, valued at $969,248. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CEVA. BlackRock Inc. increased its position in CEVA by 5.2% during the fourth quarter. BlackRock Inc. now owns 3,403,582 shares of the semiconductor company’s stock worth $75,185,000 after acquiring an additional 167,582 shares during the period. Millennium Management LLC increased its position in CEVA by 1,606.6% during the fourth quarter. Millennium Management LLC now owns 119,152 shares of the semiconductor company’s stock worth $2,632,000 after acquiring an additional 112,170 shares during the period. Thrivent Financial for Lutherans increased its position in CEVA by 629.5% during the third quarter. Thrivent Financial for Lutherans now owns 111,204 shares of the semiconductor company’s stock worth $3,197,000 after acquiring an additional 95,960 shares during the period. Senvest Management LLC increased its position in CEVA by 17.3% during the third quarter. Senvest Management LLC now owns 539,680 shares of the semiconductor company’s stock worth $15,516,000 after acquiring an additional 79,579 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in CEVA by 11.3% during the third quarter. Dimensional Fund Advisors LP now owns 710,928 shares of the semiconductor company’s stock worth $20,439,000 after acquiring an additional 71,955 shares during the period. 88.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:CEVA traded up $0.30 during trading on Friday, reaching $26.96. The stock had a trading volume of 84,079 shares, compared to its average volume of 136,212. CEVA has a 52 week low of $20.40 and a 52 week high of $37.65. The firm has a market cap of $588.12 million, a price-to-earnings ratio of 245.09 and a beta of 1.75.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Wednesday, February 13th. The semiconductor company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.08. CEVA had a net margin of 0.74% and a return on equity of 1.00%. The company had revenue of $21.40 million for the quarter, compared to analyst estimates of $22.07 million. During the same quarter last year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts expect that CEVA will post -0.08 EPS for the current fiscal year.

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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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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