Ceva Inc. (CEVA) Reaches New 1-Year High at $28.20
Ceva Inc. (NASDAQ:CEVA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $28.20 and last traded at $28.00, with a volume of 26,986 shares trading hands. The stock had previously closed at $27.91.
Several equities analysts have recently issued reports on CEVA shares. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Ceva in a report on Monday, May 2nd. Canaccord Genuity reissued a “buy” rating and set a $31.00 price target on shares of Ceva in a report on Monday, May 2nd. Topeka Capital Markets boosted their price target on shares of Ceva from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 2nd. Finally, Zacks Investment Research raised shares of Ceva from a “sell” rating to a “buy” rating and set a $28.00 price target for the company in a report on Thursday, May 12th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $29.44.
The company has a market capitalization of $570.48 million and a price-to-earnings ratio of 75.43. The firm has a 50 day moving average of $26.98 and a 200-day moving average of $23.35.
Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, May 2nd. The company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. During the same quarter last year, the firm earned $0.08 EPS. The business had revenue of $16.50 million for the quarter, compared to the consensus estimate of $16.21 million. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, analysts forecast that Ceva Inc. will post $0.77 EPS for the current fiscal year.
In other news, major shareholder Senvest Management, Llc sold 177,308 shares of Ceva 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Issachar Ohana sold 3,900 shares of Ceva stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $27.50, for a total value of $107,250.00. Following the transaction, the executive vice president now owns 23,416 shares in the company, valued at approximately $643,940. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new position in Ceva during the fourth quarter valued at $1,663,000. EAM Investors LLC acquired a new position in Ceva during the fourth quarter valued at $1,108,000. Russell Frank Co boosted its position in Ceva by 14.5% in the fourth quarter. Russell Frank Co now owns 88,979 shares of the company’s stock valued at $2,122,000 after buying an additional 11,253 shares during the period. Neuberger Berman Group LLC boosted its position in Ceva by 2.2% in the fourth quarter. Neuberger Berman Group LLC now owns 514,785 shares of the company’s stock valued at $12,025,000 after buying an additional 11,102 shares during the period. Finally, California Public Employees Retirement System boosted its position in Ceva by 6.8% in the fourth quarter. California Public Employees Retirement System now owns 101,500 shares of the company’s stock valued at $2,371,000 after buying an additional 6,500 shares during the period.
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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