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.

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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.

About CEVA

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).

Analyst Recommendations for CEVA (NASDAQ:CEVA)

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