CEVA, Inc. (NASDAQ:CEVA)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $24.70 and last traded at $24.72, with a volume of 4834 shares traded. The stock had previously closed at $24.81.
CEVA has been the topic of several analyst reports. BidaskClub raised shares of CEVA from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. Zacks Investment Research raised shares of CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Canaccord Genuity restated a “buy” rating and set a $36.00 price target on shares of CEVA in a report on Tuesday, August 7th. Barclays decreased their price target on shares of CEVA from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, August 8th. Finally, Roth Capital decreased their price target on shares of CEVA from $44.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $38.00.
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The firm has a market cap of $633.40 million, a PE ratio of 30.99, a PEG ratio of 20.54 and a beta of 1.12.
CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.07). CEVA had a net margin of 5.87% and a return on equity of 2.43%. The firm had revenue of $17.49 million for the quarter, compared to the consensus estimate of $18.95 million. As a group, sell-side analysts anticipate that CEVA, Inc. 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 company’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 Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CEVA. Summit Trail Advisors LLC lifted its stake in shares of CEVA by 2,352.4% in the first quarter. Summit Trail Advisors LLC now owns 717,944 shares of the semiconductor company’s stock valued at $718,000 after buying an additional 688,669 shares during the period. BlackRock Inc. lifted its stake in CEVA by 8.6% during the second quarter. BlackRock Inc. now owns 3,122,455 shares of the semiconductor company’s stock worth $94,298,000 after purchasing an additional 246,611 shares during the period. Rice Hall James & Associates LLC lifted its stake in CEVA by 10.9% during the second quarter. Rice Hall James & Associates LLC now owns 644,003 shares of the semiconductor company’s stock worth $19,449,000 after purchasing an additional 63,136 shares during the period. Dimensional Fund Advisors LP lifted its stake in CEVA by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 633,891 shares of the semiconductor company’s stock worth $22,947,000 after purchasing an additional 48,157 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in CEVA by 14.1% during the second quarter. Baillie Gifford & Co. now owns 366,544 shares of the semiconductor company’s stock worth $11,070,000 after purchasing an additional 45,294 shares during the period. Institutional investors and hedge funds own 86.73% of the company’s stock.
CEVA Company Profile (NASDAQ: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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