Ceva Inc. (CEVA) Trading 3% Higher
Ceva Inc. (NASDAQ:CEVA) traded up 3% during trading on Friday . The company traded as high as $32.34 and last traded at $31.99, with a volume of 169,961 shares. The stock had previously closed at $31.07.
A number of equities research analysts have commented on the stock. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $37.00 target price (up previously from $32.00) on shares of Ceva in a research note on Friday, August 5th. Wunderlich raised 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 upgraded shares of Ceva from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Benchmark Co. decreased their target price on shares of Ceva from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Finally, Canaccord Genuity restated a “buy” rating and set a $31.00 target price on shares of Ceva in a research note on Monday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.89.
The stock’s 50 day moving average price is $29.99 and its 200 day moving average price is $25.11. The company has a market capitalization of $667.58 million and a price-to-earnings ratio of 66.35.
Ceva (NASDAQ:CEVA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $17.10 million for the quarter, compared to analyst estimates of $17.02 million. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. On average, equities research analysts anticipate that Ceva Inc. will post $0.84 earnings per share for the current year.
In other news, CEO Gideon Wertheizer sold 43,342 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $31.41, for a total transaction of $1,361,372.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Senvest Management, Llc sold 121,268 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $27.24, for a total value of $3,303,340.32. The disclosure for this sale can be found here.
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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