Ceva Inc. (CEVA) Sees Unusually-High Trading Volume
Ceva Inc. (NASDAQ:CEVA) saw strong trading volume on Friday . 207,357 shares changed hands during mid-day 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 equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Ceva from a “buy” rating to a “sell” rating in a research note on Tuesday, July 12th. Oppenheimer Holdings Inc. increased their target price on shares of Ceva from $25.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, May 10th. Wunderlich increased their target price on shares of Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 19th. Canaccord Genuity reissued a “buy” rating and set a $31.00 target price on shares of Ceva in a research report on Monday, May 2nd. Finally, Topeka Capital Markets increased their target price on shares of Ceva from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, May 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Ceva presently has a consensus rating of “Buy” and an average target price of $30.00.
The company has a 50-day moving average of $27.33 and a 200-day moving average of $23.59. The firm has a market capitalization of $598.07 million and a P/E ratio of 79.08.
Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, May 2nd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $16.50 million for the quarter, compared to the consensus estimate of $16.21 million. The company’s revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. On average, analysts predict that Ceva Inc. will post $0.77 earnings per share for the current year.
In other Ceva news, major shareholder Senvest Management, Llc sold 177,308 shares of Ceva stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $26.57, for a total value of $4,711,073.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Louis Silver sold 26,000 shares of Ceva stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $26.21, for a total transaction of $681,460.00. Following the completion of the transaction, the director now directly owns 16,328 shares of the company’s stock, valued at $427,956.88. 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. First Trust Advisors LP purchased a new position in shares of Ceva during the fourth quarter valued at about $1,663,000. 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. Finally, 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.
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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