Ceva Inc. (CEVA) Hits New 52-Week High at $30.35
Ceva Inc. (NASDAQ:CEVA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $30.35 and last traded at $30.10, with a volume of 57,562 shares traded. The stock had previously closed at $29.74.
CEVA has been the topic of a number of analyst reports. Canaccord Genuity reissued a “buy” rating and set a $28.00 target price on shares of Ceva in a research report on Tuesday, March 29th. Topeka Capital Markets increased their price target on shares of Ceva from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, May 2nd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Ceva in a report on Monday, May 2nd. Zacks Investment Research downgraded shares of Ceva from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Finally, Wunderlich increased their price target on shares of Ceva from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Ceva currently has a consensus rating of “Buy” and a consensus target price of $30.00.
The stock has a market capitalization of $614.63 million and a P/E ratio of 81.27. The stock has a 50-day moving average price of $27.47 and a 200 day moving average price of $23.73.
Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, May 2nd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company earned $16.50 million during the quarter, compared to the consensus estimate of $16.21 million. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 EPS. Analysts forecast that Ceva Inc. will post $0.77 EPS for the current fiscal year.
In other news, CEO Gideon Wertheizer sold 8,684 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $27.44, for a total transaction of $238,288.96. Following the transaction, the chief executive officer now owns 66,821 shares in the company, valued at $1,833,568.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce Mann sold 26,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $26.30, for a total value of $683,800.00. Following the transaction, the director now owns 26,000 shares in the company, valued at approximately $683,800. The disclosure for this sale can be found here.
Other large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new position in shares of Ceva during the fourth quarter valued at approximately $1,663,000. Russell Frank Co increased 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 last quarter. Finally, California Public Employees Retirement System increased 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 last quarter.
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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