CEVA (NASDAQ:CEVA) had its price objective hoisted by equities research analysts at Canaccord Genuity from $36.00 to $40.00 in a report issued on Tuesday. The firm presently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity’s price objective indicates a potential upside of 48.09% from the company’s previous close.

Several other brokerages have also recently issued reports on CEVA. Roth Capital decreased their target price on shares of CEVA from $44.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. BidaskClub raised shares of CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Zacks Investment Research raised shares of CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Barclays decreased their target price on shares of CEVA from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.67.

Shares of CEVA stock opened at $27.01 on Tuesday. The stock has a market capitalization of $633.40 million, a price-to-earnings ratio of 33.76, a PEG ratio of 20.54 and a beta of 1.12. CEVA has a 52-week low of $23.81 and a 52-week high of $51.80.

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

In other news, Director Maria Marced sold 2,770 shares of CEVA stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $29.50, for a total value of $81,715.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in CEVA. Summit Trail Advisors LLC grew its stake in shares of CEVA by 2,352.4% in the first quarter. Summit Trail Advisors LLC now owns 717,944 shares of the semiconductor company’s stock worth $718,000 after acquiring an additional 688,669 shares during the period. BlackRock Inc. grew its stake in shares of CEVA by 8.6% in the second quarter. BlackRock Inc. now owns 3,122,455 shares of the semiconductor company’s stock worth $94,298,000 after acquiring an additional 246,611 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of CEVA by 10.9% in the second quarter. Rice Hall James & Associates LLC now owns 644,003 shares of the semiconductor company’s stock worth $19,449,000 after acquiring an additional 63,136 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of CEVA by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 633,891 shares of the semiconductor company’s stock worth $22,947,000 after acquiring an additional 48,157 shares during the period. Finally, Baillie Gifford & Co. grew its stake in shares of CEVA by 14.1% in the second quarter. Baillie Gifford & Co. now owns 366,544 shares of the semiconductor company’s stock worth $11,070,000 after acquiring an additional 45,294 shares during the period. Hedge funds and other institutional investors own 86.73% of the company’s stock.

About CEVA

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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