CEVA (NASDAQ:CEVA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “CEVA is the leading licensor of signal processing IP for a smarter, connected world. They partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, industrial and IoT. Their ultra-low-power IPs for vision, audio, communications and connectivity include comprehensive DSP-based platforms for LTE/LTE-A/5G baseband processing in handsets, infrastructure and machine-to-machine devices, advanced imaging, computer vision and deep learning for any camera-enabled device, audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. “

Several other brokerages also recently weighed in on CEVA. Roth Capital reduced their target price on shares of CEVA from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Canaccord Genuity reissued a “buy” rating and issued a $36.00 target price on shares of CEVA in a research note on Tuesday, August 7th. BidaskClub raised shares of CEVA from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Barclays reduced their target price on shares of CEVA from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. CEVA presently has an average rating of “Hold” and an average price target of $38.00.

Shares of CEVA opened at $24.81 on Tuesday. CEVA has a twelve month low of $24.78 and a twelve month high of $51.80. The firm has a market capitalization of $633.40 million, a PE ratio of 31.61, a PEG ratio of 20.54 and a beta of 1.12.

CEVA (NASDAQ:CEVA) last announced its earnings results on Tuesday, August 7th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.07). CEVA had a net margin of 5.87% and a return on equity of 2.43%. The firm had revenue of $17.49 million during the quarter, compared to analysts’ expectations of $18.95 million. As a group, sell-side analysts expect that CEVA will post 0.07 EPS for the current year.

In related news, Director Maria Marced sold 2,770 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $29.50, for a total value of $81,715.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CEVA. Quantbot Technologies LP increased its stake in CEVA by 813.1% in the 1st quarter. Quantbot Technologies LP now owns 3,351 shares of the semiconductor company’s stock worth $121,000 after buying an additional 2,984 shares during the period. Piedmont Investment Advisors LLC purchased a new position in CEVA in the 2nd quarter worth about $156,000. SG Americas Securities LLC purchased a new position in CEVA in the 2nd quarter worth about $192,000. WINTON GROUP Ltd purchased a new position in CEVA in the 1st quarter worth about $203,000. Finally, GSA Capital Partners LLP purchased a new position in CEVA in the 2nd quarter worth about $221,000. 86.73% of the stock is currently owned by institutional investors.

CEVA Company Profile

CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of Things (IoT) markets worldwide. The company licenses a family of programmable digital signal processor (DSP) cores and application-specific platforms for imaging, computer vision, deep learning, sound, voice, and audio processing; and long range wireless technologies for LTE/5G baseband processing in IoT, handsets, and infrastructure, as well as short range wireless platforms for Wi-Fi and Bluetooth.

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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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