Ceva Inc. (CEVA) Trading Up 3%
Ceva Inc. (NASDAQ:CEVA)’s share price was 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 changing hands. The stock had previously closed at $31.07.
CEVA has been the subject of several recent research reports. Topeka Capital Markets lifted their price objective on Ceva from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, May 2nd. Canaccord Genuity reiterated a “buy” rating and issued a $31.00 price objective on shares of Ceva in a research note on Monday, May 2nd. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Ceva in a research note on Monday, May 2nd. Zacks Investment Research cut Ceva from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Finally, Wunderlich lifted their price objective on Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $30.89.
The stock has a market cap of $667.58 million and a P/E ratio of 66.35. The company has a 50-day moving average of $30.15 and a 200-day moving average of $25.21.
Ceva (NASDAQ:CEVA) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. During the same quarter in the prior year, the company earned $0.06 earnings per share. The firm had revenue of $17.10 million for the quarter, compared to analyst estimates of $17.02 million. The business’s revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts expect that Ceva Inc. will post $0.84 EPS for the current year.
In other news, major shareholder Senvest Management, Llc sold 147,055 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $27.08, for a total value of $3,982,249.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce Mann sold 1,796 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $31.85, for a total value of $57,202.60. Following the completion of the sale, the director now directly owns 9,678 shares of the company’s stock, valued at approximately $308,244.30. 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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