Ceva Inc. (CEVA) Sets New 12-Month High at $28.20
Ceva Inc. (NASDAQ:CEVA)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $28.20 and last traded at $28.00, with a volume of 26,986 shares. The stock had previously closed at $27.91.
Several equities analysts have weighed in on CEVA shares. Canaccord Genuity reiterated a “buy” rating and set a $28.00 price objective on shares of Ceva in a research report on Tuesday, March 29th. Zacks Investment Research upgraded shares of Ceva from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Monday, July 4th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $32.00 price objective on shares of Ceva in a research report on Thursday, May 19th. Finally, Topeka Capital Markets lifted their price objective on shares of Ceva from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, May 2nd. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Ceva presently has an average rating of “Buy” and a consensus target price of $29.44.
The firm has a market capitalization of $568.44 million and a PE ratio of 75.16. The stock has a 50 day moving average price of $26.95 and a 200 day moving average price of $23.29.
Ceva (NASDAQ:CEVA) last issued its earnings results on Monday, May 2nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $16.50 million for the quarter, compared to the consensus estimate of $16.21 million. Ceva’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. On average, equities analysts anticipate that Ceva Inc. will post $0.77 EPS for the current fiscal year.
In other Ceva news, Director Louis Silver sold 26,000 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $26.21, for a total transaction of $681,460.00. Following the completion of the transaction, the director now owns 16,328 shares in the company, valued at $427,956.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Senvest Management, Llc sold 177,308 shares of the stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $26.57, for a total transaction of $4,711,073.56. The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in CEVA. Russell Frank Co increased its stake in shares of Ceva by 14.5% in the fourth quarter. Russell Frank Co now owns 88,979 shares of the company’s stock worth $2,122,000 after buying an additional 11,253 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Ceva by 2.2% in the fourth quarter. Neuberger Berman Group LLC now owns 514,785 shares of the company’s stock worth $12,025,000 after buying an additional 11,102 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Ceva during the fourth quarter worth about $1,663,000. California Public Employees Retirement System increased its stake in shares of Ceva by 6.8% in the fourth quarter. California Public Employees Retirement System now owns 101,500 shares of the company’s stock worth $2,371,000 after buying an additional 6,500 shares during the last quarter. Finally, EAM Investors LLC purchased a new stake in shares of Ceva during the fourth quarter worth about $1,108,000.
CEVA, Inc is a licensor of cellular, multimedia and connectivity technologies to semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive and Internet of things (IoT) markets. The Company licenses a family of programmable digital signal processing (DSP) cores and application-specific platforms, vision, imaging, audio and voice, as well as communications technologies, including wireless and wired modems, Wi-Fi, Bluetooth, and Serial ATA (SATA) and Serial Attached SCSI (SAS).
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