Ceva Inc. (CEVA) Trading Down 2.2%
Ceva Inc. (NASDAQ:CEVA) fell 2.2% during mid-day trading on Friday . The stock 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.
Several research firms recently issued reports on CEVA. Canaccord Genuity reissued a “buy” rating and set a $31.00 price objective on shares of Ceva in a research note on Monday, May 2nd. Topeka Capital Markets lifted their price objective on Ceva from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, May 2nd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Ceva in a research note on Monday, May 2nd. Zacks Investment Research lowered Ceva from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Finally, Wunderlich lifted their price objective on Ceva from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $30.00.
The firm’s 50 day moving average price is $27.73 and its 200-day moving average price is $23.87. The company has a market capitalization of $614.43 million and a P/E ratio of 81.24.
In other news, major shareholder Senvest Management, Llc sold 177,308 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce Mann sold 26,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 26,000 shares of the company’s stock, valued at $683,800. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. California Public Employees Retirement System raised its stake in 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 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 last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Ceva during the fourth quarter worth about $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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