Canaccord Genuity Raises CEVA, Inc. (CEVA) Price Target to $54.00
CEVA, Inc. (NASDAQ:CEVA) had its price objective increased by Canaccord Genuity from $45.00 to $54.00 in a research report sent to investors on Friday. Canaccord Genuity currently has a buy rating on the semiconductor company’s stock.
A number of other equities research analysts also recently issued reports on CEVA. BidaskClub raised shares of CEVA from a buy rating to a strong-buy rating in a research report on Thursday. Roth Capital upped their price objective on shares of CEVA from $47.00 to $53.00 and gave the stock a buy rating in a research report on Monday, July 31st. Benchmark Co. upped their price objective on shares of CEVA from $42.00 to $50.00 and gave the stock a buy rating in a research report on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. upped their price objective on shares of CEVA from $37.00 to $42.00 and gave the stock an outperform rating in a research report on Monday, May 15th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. CEVA has an average rating of Buy and an average price target of $44.71.
Shares of CEVA (CEVA) traded up 1.690% during midday trading on Friday, reaching $43.625. 49,242 shares of the company traded hands. The company has a 50-day moving average of $46.02 and a 200 day moving average of $39.38. The firm has a market capitalization of $940.25 million, a PE ratio of 61.617 and a beta of 0.63. CEVA has a 12-month low of $28.15 and a 12-month high of $48.67.
CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $20.57 million during the quarter, compared to the consensus estimate of $19.66 million. CEVA had a net margin of 20.52% and a return on equity of 8.24%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, equities analysts forecast that CEVA will post $1.14 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Daily Political and is the property of of Daily Political. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/08/07/canaccord-genuity-raises-ceva-inc-ceva-price-target-to-54-00.html.
In other CEVA news, CEO Gideon Wertheizer sold 30,332 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $42.50, for a total value of $1,289,110.00. Following the sale, the chief executive officer now directly owns 85,388 shares in the company, valued at approximately $3,628,990. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Mcmanamon sold 1,497 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $45.00, for a total transaction of $67,365.00. Following the completion of the sale, the director now owns 264,054 shares in the company, valued at $11,882,430. The disclosure for this sale can be found here. Insiders have sold a total of 150,219 shares of company stock worth $6,414,133 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of CEVA. Comerica Bank boosted its stake in CEVA by 4.3% in the first quarter. Comerica Bank now owns 23,440 shares of the semiconductor company’s stock valued at $860,000 after buying an additional 967 shares in the last quarter. Skylands Capital LLC bought a new position in shares of CEVA during the first quarter worth approximately $1,727,000. State of Tennessee Treasury Department raised its position in shares of CEVA by 18.1% in the first quarter. State of Tennessee Treasury Department now owns 19,358 shares of the semiconductor company’s stock worth $687,000 after buying an additional 2,972 shares during the last quarter. Pictet Asset Management Ltd. bought a new position in shares of CEVA during the first quarter worth approximately $15,238,000. Finally, Guggenheim Capital LLC raised its position in shares of CEVA by 33.7% in the fourth quarter. Guggenheim Capital LLC now owns 54,994 shares of the semiconductor company’s stock worth $1,844,000 after buying an additional 13,851 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.
CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).
Receive News & Ratings for CEVA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEVA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.