Shares of CEVA, Inc. (NASDAQ:CEVA – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.86.
Several analysts recently weighed in on the company. Roth Mkm downgraded CEVA from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $20.00 in a research note on Thursday. Northland Securities cut their target price on CEVA from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday. TheStreet downgraded CEVA from a “c-” rating to a “d+” rating in a research note on Monday, May 22nd. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Finally, Rosenblatt Securities cut their target price on CEVA from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday.
Check Out Our Latest Report on CEVA
CEVA Stock Down 1.6 %
CEVA (NASDAQ:CEVA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 9th. The semiconductor company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.09). The company had revenue of $26.20 million during the quarter, compared to analysts’ expectations of $31.01 million. CEVA had a negative return on equity of 2.31% and a negative net margin of 25.46%. The business’s quarterly revenue was down 21.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 EPS. As a group, equities analysts expect that CEVA will post -0.25 EPS for the current year.
Insider Transactions at CEVA
In other news, Director Louis Silver sold 6,817 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $26.00, for a total value of $177,242.00. Following the transaction, the director now directly owns 35,697 shares in the company, valued at approximately $928,122. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.90% of the company’s stock.
Hedge Funds Weigh In On CEVA
Institutional investors and hedge funds have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in CEVA by 418.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,716 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 1,385 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of CEVA by 122.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,992 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 1,097 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of CEVA by 36.5% in the first quarter. Captrust Financial Advisors now owns 2,129 shares of the semiconductor company’s stock valued at $87,000 after acquiring an additional 569 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of CEVA in the first quarter valued at about $89,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of CEVA by 28.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,906 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 1,095 shares in the last quarter. 83.15% of the stock is currently owned by hedge funds and other institutional investors.
CEVA Company Profile
CEVA, Inc operates as a licensor of wireless connectivity and smart sensing technologies to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI).
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