Roth Capital Initiates Coverage on Ceva Inc. (CEVA)
Several other research firms also recently weighed in on CEVA. Benchmark Co. set a $36.00 price objective on shares of Ceva and gave the stock a buy rating in a report on Wednesday, September 28th. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $37.00 price objective (up previously from $32.00) on shares of Ceva in a report on Friday, August 5th. Wunderlich upped their price objective on shares of Ceva from $30.00 to $33.00 and gave the stock a buy rating in a report on Tuesday, July 19th. 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. The stock currently has an average rating of Buy and a consensus target price of $32.20.
Shares of Ceva (NASDAQ:CEVA) opened at 34.98 on Wednesday. The stock has a market capitalization of $733.18 million, a P/E ratio of 72.88 and a beta of 0.97. The stock’s 50 day moving average is $32.49 and its 200-day moving average is $27.75. Ceva has a one year low of $17.11 and a one year high of $36.81.
Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The business earned $17.10 million during the quarter, compared to the consensus estimate of $17.02 million. Ceva had a net margin of 15.36% and a return on equity of 5.87%. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, equities research analysts expect that Ceva will post $0.83 EPS for the current year.
In other Ceva news, Director Bruce Mann sold 1,796 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $31.85, for a total transaction of $57,202.60. Following the sale, the director now owns 9,678 shares in the company, valued at approximately $308,244.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Senvest Management, Llc sold 73,500 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $29.65, for a total value of $2,179,275.00. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in Ceva during the second quarter valued at about $4,789,000. Granahan Investment Management Inc. MA increased its stake in Ceva by 44.5% in the first quarter. Granahan Investment Management Inc. MA now owns 308,040 shares of the company’s stock valued at $6,931,000 after buying an additional 94,927 shares during the last quarter. Uniplan Investment Counsel Inc. increased its stake in Ceva by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 234,839 shares of the company’s stock valued at $5,284,000 after buying an additional 816 shares during the last quarter. Spark Investment Management LLC bought a new stake in Ceva during the first quarter valued at about $747,000. Finally, Prudential Financial Inc. increased its stake in Ceva by 2.8% in the first quarter. Prudential Financial Inc. now owns 48,543 shares of the company’s stock valued at $1,092,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.
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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