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CEVA, Inc. (NASDAQ:CEVA) Given Average Recommendation of "Buy" by Brokerages

Last updated on Saturday, October 17, 2020 | 2020 MarketBeat

Shares of CEVA, Inc. (NASDAQ:CEVA) have been assigned an average rating of "Buy" from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $46.40.

CEVA has been the subject of several recent analyst reports. BidaskClub upgraded CEVA from a "hold" rating to a "buy" rating in a research note on Thursday, September 24th. Zacks Investment Research lowered CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Northland Securities upgraded CEVA from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $37.00 to $48.00 in a research note on Monday, September 21st. Roth Capital boosted their price objective on CEVA from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, ValuEngine upgraded CEVA from a "hold" rating to a "buy" rating in a research note on Monday, October 12th.

NASDAQ CEVA opened at $43.42 on Friday. CEVA has a fifty-two week low of $20.45 and a fifty-two week high of $46.50. The stock has a 50-day simple moving average of $39.89 and a two-hundred day simple moving average of $36.07. The firm has a market capitalization of $962.14 million, a P/E ratio of 620.29 and a beta of 1.43.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.04 by $0.08. CEVA had a return on equity of 2.20% and a net margin of 1.58%. The firm had revenue of $23.60 million during the quarter, compared to analyst estimates of $20.78 million. During the same quarter in the previous year, the business earned $0.05 EPS. CEVA's revenue for the quarter was up 28.3% compared to the same quarter last year. Sell-side analysts expect that CEVA will post -0.07 earnings per share for the current year.

In related news, CEO Gideon Wertheizer sold 35,385 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $42.74, for a total value of $1,512,354.90. Following the completion of the sale, the chief executive officer now owns 113,250 shares of the company's stock, valued at $4,840,305. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter Mcmanamon sold 57,068 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $43.00, for a total value of $2,453,924.00. Following the completion of the sale, the director now directly owns 17,254 shares of the company's stock, valued at approximately $741,922. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,791 shares of company stock valued at $4,066,486. 3.81% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new stake in shares of CEVA in the second quarter valued at approximately $1,682,000. BNP Paribas Arbitrage SA increased its holdings in shares of CEVA by 29.0% in the first quarter. BNP Paribas Arbitrage SA now owns 13,114 shares of the semiconductor company's stock valued at $327,000 after purchasing an additional 2,948 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in shares of CEVA by 2.0% in the second quarter. State of Tennessee Treasury Department now owns 18,653 shares of the semiconductor company's stock valued at $698,000 after purchasing an additional 366 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of CEVA by 196.5% in the second quarter. Great West Life Assurance Co. Can now owns 83,531 shares of the semiconductor company's stock valued at $3,126,000 after purchasing an additional 55,357 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of CEVA by 5.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 146,780 shares of the semiconductor company's stock valued at $5,493,000 after purchasing an additional 7,562 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

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 signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.

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Analyst Recommendations for CEVA (NASDAQ:CEVA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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