Benchmark Co. Reiterates $36.00 Price Target for Ceva Inc. (CEVA)
Several other equities analysts have also commented on the stock. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $37.00 target price (up previously from $32.00) on shares of Ceva in a report on Friday, August 5th. Wunderlich increased their target price on shares of Ceva from $33.00 to $36.00 and gave the company a buy rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research raised shares of Ceva from a sell rating to a hold rating in a report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Ceva has a consensus rating of Buy and a consensus target price of $32.20.
Ceva (NASDAQ:CEVA) opened at 34.98 on Wednesday. Ceva has a one year low of $17.11 and a one year high of $36.81. The stock’s 50 day moving average is $32.49 and its 200 day moving average is $27.75. The firm has a market cap of $733.18 million, a price-to-earnings ratio of 72.88 and a beta of 0.97.
Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The firm had revenue of $17.10 million for the quarter, compared to analysts’ expectations of $17.02 million. Ceva had a net margin of 15.36% and a return on equity of 5.87%. The business’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. On average, analysts predict that Ceva will post $0.83 earnings per share for the current fiscal year.
In other Ceva news, CEO Gideon Wertheizer sold 43,342 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $31.41, for a total value of $1,361,372.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce Mann sold 1,796 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $31.85, for a total transaction of $57,202.60. Following the completion of the sale, the director now directly owns 9,678 shares in the company, valued at approximately $308,244.30. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in CEVA. Emerald Acquisition Ltd. bought a new stake in Ceva during the second quarter valued at approximately $4,789,000. KBC Group NV boosted its stake in Ceva by 366.4% in the second quarter. KBC Group NV now owns 8,768 shares of the company’s stock valued at $238,000 after buying an additional 6,888 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Ceva by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 394,674 shares of the company’s stock valued at $10,724,000 after buying an additional 13,357 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in Ceva by 1.3% in the second quarter. Rice Hall James & Associates LLC now owns 490,014 shares of the company’s stock valued at $13,314,000 after buying an additional 6,338 shares in the last quarter. Finally, Capstone Asset Management Co. bought a new stake in Ceva during the second quarter valued at approximately $250,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.
Ceva Company Profile
CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).
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