Ceva Inc. (CEVA) Trading Down 2.2%
Ceva Inc. (NASDAQ:CEVA)’s share price dropped 2.2% during mid-day trading on Friday . The company traded as low as $29.86 and last traded at $30.00, with a volume of 54,425 shares trading hands. The stock had previously closed at $30.66.
CEVA has been the subject of a number of research analyst reports. Topeka Capital Markets upped their price target on Ceva from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $31.00 price target on shares of Ceva in a report on Monday, May 2nd. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Ceva in a report on Monday, May 2nd. Zacks Investment Research downgraded Ceva from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Finally, Wunderlich upped their price target on Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $30.00.
The company has a market capitalization of $614.43 million and a price-to-earnings ratio of 81.24. The company has a 50 day moving average of $27.73 and a 200-day moving average of $23.87.
Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, May 2nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $16.50 million for the quarter, compared to analysts’ expectations of $16.21 million. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. On average, equities analysts forecast that Ceva Inc. will post $0.77 EPS for the current fiscal year.
In related news, Director Bruce Mann sold 26,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $26.30, for a total transaction of $683,800.00. Following the sale, the director now directly owns 26,000 shares in the company, valued at approximately $683,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Senvest Management, Llc sold 177,308 shares of the firm’s 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 disclosure for this sale can be found here.
Several large investors recently made changes to their positions in the stock. California Public Employees Retirement System increased its stake 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. Russell Frank Co raised its stake in shares of Ceva by 14.5% in the fourth quarter. Russell Frank Co now owns 88,979 shares of the company’s stock worth $2,122,000 after buying an additional 11,253 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Ceva during the fourth quarter worth $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).
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