CEVA (CEVA) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of CEVA (NASDAQ:CEVA) from a hold rating to a sell rating in a research report report published on Monday, February 5th.

Several other analysts have also recently commented on CEVA. Canaccord Genuity upped their target price on shares of CEVA from $53.00 to $54.00 and gave the company a buy rating in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of CEVA from a hold rating to a sell rating in a report on Monday, November 6th. UBS Group lowered shares of CEVA from an outperform rating to a market perform rating in a report on Wednesday, January 24th. Finally, Oppenheimer lowered shares of CEVA from an outperform rating to a hold rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $47.57.

CEVA (NASDAQ:CEVA) traded down $0.05 during midday trading on Monday, reaching $35.60. The company’s stock had a trading volume of 140,200 shares, compared to its average volume of 240,723. The firm has a market capitalization of $783.41, a P/E ratio of 46.84, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. CEVA has a 12 month low of $32.80 and a 12 month high of $51.80.

CEVA (NASDAQ:CEVA) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. CEVA had a return on equity of 7.82% and a net margin of 19.46%. The business had revenue of $21.60 million for the quarter, compared to the consensus estimate of $21.17 million. During the same period in the previous year, the business earned $0.32 EPS. CEVA’s revenue was up 1.9% compared to the same quarter last year. equities analysts predict that CEVA will post 0.63 earnings per share for the current fiscal year.

In other news, EVP Issachar Ohana sold 1,965 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $50.10, for a total transaction of $98,446.50. Following the transaction, the executive vice president now directly owns 28,289 shares of the company’s stock, valued at $1,417,278.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gideon Wertheizer sold 20,603 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $49.28, for a total transaction of $1,015,315.84. Following the transaction, the chief executive officer now directly owns 82,497 shares in the company, valued at $4,065,452.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,467 shares of company stock worth $2,834,039. Insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CEVA. Piedmont Investment Advisors LLC bought a new stake in CEVA in the second quarter valued at $211,000. Cubist Systematic Strategies LLC bought a new stake in CEVA in the third quarter valued at $213,000. GSA Capital Partners LLP bought a new stake in CEVA in the third quarter valued at $239,000. Icon Advisers Inc. Co. bought a new stake in CEVA in the third quarter valued at $291,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of CEVA by 8.1% during the second quarter. UBS Asset Management Americas Inc. now owns 6,699 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 500 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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About CEVA

CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).

Analyst Recommendations for CEVA (NASDAQ:CEVA)

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