Ceva Inc. (CEVA) Sees Strong Trading Volume
Shares of Ceva Inc. (NASDAQ:CEVA) saw an uptick in trading volume on Friday . 207,357 shares were traded during trading, an increase of 55% from the previous session’s volume of 134,072 shares.The stock last traded at $29.26 and had previously closed at $29.15.
Several research firms have weighed in on CEVA. Wunderlich boosted their target price on shares of Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Ceva from a “sell” rating to a “hold” rating in a research note on Tuesday. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Ceva in a research note on Monday, May 2nd. Canaccord Genuity reiterated 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 target price on shares of Ceva from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, May 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $30.00.
The firm has a 50 day moving average of $27.33 and a 200-day moving average of $23.59. The company has a market capitalization of $598.07 million and a price-to-earnings ratio of 79.08.
Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, May 2nd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. During the same period in the prior year, the company posted $0.08 earnings per share. The business earned $16.50 million during the quarter, compared to the consensus estimate of $16.21 million. The firm’s revenue was up 19.6% compared to the same quarter last year. On average, analysts forecast that Ceva Inc. will post $0.77 EPS for the current fiscal year.
In related news, EVP Issachar Ohana sold 3,900 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $27.50, for a total value of $107,250.00. Following the completion of the transaction, the executive vice president now directly owns 23,416 shares of the company’s stock, valued at $643,940. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Senvest Management, Llc sold 177,308 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $26.57, for a total value of $4,711,073.56. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of the company. 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 valued at $2,371,000 after buying an additional 6,500 shares during the period. 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 valued at $2,122,000 after buying an additional 11,253 shares during the period. EAM Investors LLC purchased a new position in shares of Ceva during the fourth quarter valued at approximately $1,108,000. Finally, First Trust Advisors LP purchased a new position in shares of Ceva during the fourth quarter valued at approximately $1,663,000.
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).