CEVA (CEVA) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of CEVA (NASDAQ:CEVA) from a strong sell rating to a sell rating in a research report released on Wednesday morning.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of CEVA from a hold rating to a sell rating in a report on Friday, August 10th. Canaccord Genuity raised their target price on shares of CEVA from $36.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, October 16th. Barclays lowered 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. Roth Capital lowered 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. Finally, ValuEngine raised shares of CEVA from a hold rating to a buy rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $38.67.

Shares of CEVA stock traded up $3.66 during trading hours on Wednesday, reaching $29.14. The stock had a trading volume of 8,485 shares, compared to its average volume of 131,352. CEVA has a twelve month low of $23.01 and a twelve month high of $51.80. The stock has a market cap of $572.38 million, a PE ratio of 36.53, a price-to-earnings-growth ratio of 18.56 and a beta of 1.38.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, November 8th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. CEVA had a net margin of 5.87% and a return on equity of 2.43%. The business had revenue of $21.40 million for the quarter, compared to analysts’ expectations of $21.37 million. During the same quarter last year, the company earned $0.36 EPS. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, analysts expect that CEVA will post 0.07 earnings per share for the current fiscal year.

In other CEVA 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 transaction of $81,715.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of CEVA by 8.6% during the 2nd quarter. BlackRock Inc. now owns 3,122,455 shares of the semiconductor company’s stock valued at $94,298,000 after purchasing an additional 246,611 shares in the last quarter. Oaktop Capital Management II L.P. boosted its position in shares of CEVA by 6.7% during the 3rd quarter. Oaktop Capital Management II L.P. now owns 793,836 shares of the semiconductor company’s stock valued at $22,823,000 after purchasing an additional 50,000 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of CEVA by 16.3% during the 3rd quarter. Rice Hall James & Associates LLC now owns 748,771 shares of the semiconductor company’s stock valued at $21,527,000 after purchasing an additional 104,768 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CEVA by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 638,973 shares of the semiconductor company’s stock valued at $19,297,000 after purchasing an additional 5,082 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of CEVA by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 467,686 shares of the semiconductor company’s stock valued at $14,123,000 after purchasing an additional 12,657 shares in the last quarter. Institutional investors own 87.08% 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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