Ceva Inc. (CEVA) Hits New 52-Week High at $30.35
Shares of Ceva Inc. (NASDAQ:CEVA) reached a new 52-week high during trading on Wednesday . The company traded as high as $30.35 and last traded at $30.10, with a volume of 57,562 shares traded. The stock had previously closed at $29.74.
A number of analysts have recently commented on the stock. Wunderlich boosted their target price on shares of Ceva from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th. Zacks Investment Research raised shares of Ceva from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Ceva in a research note on Monday, May 2nd. Canaccord Genuity reissued a “buy” rating and set a $31.00 target price on shares of Ceva in a research note on Monday, May 2nd. Finally, Topeka Capital Markets boosted their price target 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 hold rating and nine have given a buy rating to the stock. Ceva presently has a consensus rating of “Buy” and a consensus price target of $30.00.
The stock has a market cap of $621.78 million and a P/E ratio of 82.22. The firm’s 50-day moving average is $27.65 and its 200-day moving average is $23.82.
Ceva (NASDAQ:CEVA) last issued its earnings results 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 period in the previous year, the firm earned $0.08 EPS. The firm earned $16.50 million during the quarter, compared to analysts’ expectations of $16.21 million. The firm’s revenue was up 19.6% on a year-over-year basis. Equities research analysts predict that Ceva Inc. will post $0.77 earnings per share for the current fiscal year.
In related news, major shareholder Senvest Management, Llc sold 177,308 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $26.57, for a total value of $4,711,073.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Issachar Ohana sold 3,900 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $27.50, for a total transaction of $107,250.00. Following the completion of the sale, the executive vice president now owns 23,416 shares of the company’s stock, valued at approximately $643,940. The disclosure for this sale can be found here.
Several hedge funds recently made changes to their positions in the stock. First Trust Advisors LP bought a new stake in shares of Ceva during the fourth quarter valued at approximately $1,663,000. Russell Frank Co boosted its position 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. Finally, California Public Employees Retirement System boosted its position 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.
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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