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

CEVA, Inc. (NASDAQ:CEVA) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $46.50.

Several equities analysts recently weighed in on CEVA shares. BidaskClub lowered shares of CEVA from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Roth Capital boosted their price objective on shares of CEVA from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Canaccord Genuity reiterated a “buy” rating and issued a $45.00 price objective on shares of CEVA in a report on Tuesday, July 11th. Finally, Benchmark Co. boosted their price objective on shares of CEVA from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 5th.

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In other CEVA news, Director Peter Mcmanamon sold 1,497 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $45.00, for a total value of $67,365.00. Following the transaction, the director now owns 264,054 shares in the company, valued at approximately $11,882,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC raised its stake in shares of CEVA by 61.0% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock valued at $60,648,000 after purchasing an additional 505,443 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of CEVA by 3.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 640,978 shares of the semiconductor company’s stock valued at $29,132,000 after purchasing an additional 23,564 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of CEVA in the 2nd quarter valued at about $211,000. The Manufacturers Life Insurance Company raised its stake in shares of CEVA by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,521 shares of the semiconductor company’s stock valued at $751,000 after purchasing an additional 1,185 shares in the last quarter. Finally, State Street Corp raised its stake in shares of CEVA by 1.5% in the 2nd quarter. State Street Corp now owns 582,662 shares of the semiconductor company’s stock valued at $26,484,000 after purchasing an additional 8,878 shares in the last quarter. Institutional investors and hedge funds own 87.29% of the company’s stock.

Shares of CEVA (NASDAQ CEVA) traded up 2.23% during mid-day trading on Friday, hitting $43.55. The stock had a trading volume of 357,060 shares. CEVA has a 12-month low of $28.15 and a 12-month high of $48.67. The stock has a market cap of $956.53 million, a P/E ratio of 57.61 and a beta of 0.66. The company’s 50 day moving average price is $41.98 and its 200 day moving average price is $40.82.

CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The business had revenue of $20.57 million for the quarter, compared to analyst estimates of $19.66 million. CEVA had a net margin of 20.52% and a return on equity of 8.24%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Equities research analysts predict that CEVA will post $1.14 EPS for the current fiscal year.

About CEVA

CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).

Analyst Recommendations for CEVA (NASDAQ:CEVA)

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