CEVA (NASDAQ:CEVA) PT Raised to $51.00 at Cowen

CEVA (NASDAQ:CEVA) had its price target boosted by Cowen from $45.00 to $51.00 in a report published on Tuesday, Briefing.com Automated Import reports. They currently have an outperform rating on the semiconductor company’s stock.

CEVA has been the topic of a number of other research reports. Oppenheimer reissued a hold rating on shares of CEVA in a report on Monday, May 11th. Roth Capital boosted their target price on CEVA from $50.00 to $60.00 and gave the company a buy rating in a report on Monday, August 10th. ValuEngine lowered CEVA from a buy rating to a hold rating in a report on Friday, May 1st. Northland Securities reissued a hold rating and issued a $37.00 target price on shares of CEVA in a report on Monday, August 10th. Finally, BidaskClub raised CEVA from a hold rating to a buy rating in a report on Thursday, April 30th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $43.83.

CEVA opened at $42.84 on Tuesday. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 612.00 and a beta of 1.38. CEVA has a 52 week low of $20.45 and a 52 week high of $46.50. The business’s 50 day moving average is $38.78 and its two-hundred day moving average is $32.10. The company has a quick ratio of 6.56, a current ratio of 7.28 and a debt-to-equity ratio of 0.03.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.04 by $0.08. The company had revenue of $23.60 million for the quarter, compared to analyst estimates of $20.78 million. CEVA had a return on equity of 2.20% and a net margin of 1.58%. The firm’s revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. Equities analysts expect that CEVA will post -0.09 EPS for the current fiscal year.

In related news, EVP Issachar Ohana sold 2,581 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $36.00, for a total transaction of $92,916.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.81% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. UBS Group AG boosted its position in CEVA by 86.7% during the fourth quarter. UBS Group AG now owns 31,379 shares of the semiconductor company’s stock worth $846,000 after purchasing an additional 14,569 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in CEVA by 111.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 92,521 shares of the semiconductor company’s stock worth $2,494,000 after purchasing an additional 48,755 shares in the last quarter. Geode Capital Management LLC boosted its position in CEVA by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 306,874 shares of the semiconductor company’s stock worth $8,273,000 after purchasing an additional 9,727 shares in the last quarter. Nuveen Asset Management LLC boosted its position in CEVA by 17.5% during the fourth quarter. Nuveen Asset Management LLC now owns 103,231 shares of the semiconductor company’s stock worth $2,783,000 after purchasing an additional 15,412 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in CEVA by 22.9% during the first quarter. State of Alaska Department of Revenue now owns 20,403 shares of the semiconductor company’s stock worth $508,000 after purchasing an additional 3,795 shares in the last quarter. 79.23% of the stock is currently owned by hedge funds and other 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 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.

See Also: Retained Earnings

Analyst Recommendations for CEVA (NASDAQ:CEVA)

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