CEVA (NASDAQ:CEVA) rating downgraded to remain at Zacks Investment Research
According to Zacks, “CEVA is the leading licensor of signal processing intellectual property for a smarter, more connected world. They partner with semiconductor companies and OEMs around the world to create energy efficient, smart and connected devices for a range of end markets including mobile, consumer, automotive, industrial and the IoT. Their ultra-low-power IPs for vision, audio, communications and connectivity include complete DSP-based platforms for LTE/LTE-A/5G baseband processing in handsets, infrastructure and machine-to-machine devices, advanced imaging, computer vision, and deep learning for any camera-equipped device, audio/voice/speech, and always-on/ultra-low-power sensing applications for multiple IoT markets. “
Several other stock analysts have also recently weighed in on the stock. Rosenblatt Securities upgraded CEVA’s shares from a “neutral” rating to a “buy” rating and raised its price target for the stock from $50.00 to $60.00 in a Wednesday, February 16, report. StockNews.com supposed coverage of CEVA shares in a Thursday, March 31, research note. They set a “buy” rating on the stock.
NASDAQ: CEVA traded at $1.40 in midday trading on Thursday, hitting $38.19. The company’s shares had a trading volume of 118,838 shares, compared to an average volume of 131,838. CEVA has a fifty-two week low of $31.08 and a fifty-two week high of $52.00 . The company’s 50-day moving average is $36.23 and its 200-day moving average is $39.39. The company has a market capitalization of $886.16 million, a P/E ratio of 381.90, a P/E/G ratio of 9.88 and a beta of 1.04.
THIS WILL (NASDAQ: CEVA – Get a rating) last released its quarterly results on Tuesday, May 10. The semiconductor company reported earnings per share of $0.03 for the quarter, missing the consensus estimate of $0.04 per ($0.01). CEVA had a return on equity of 2.51% and a net margin of 1.77%. The company posted revenue of $34.39 million in the quarter, compared to analyst estimates of $32.70 million. During the same quarter last year, the company posted ($0.13) EPS. CEVA’s quarterly revenue increased 35.4% compared to the same quarter last year. On average, sell-side analysts expect CEVA to post 0.18 earnings per share for the current fiscal year.
In related news, COO Michel Boukaya sold 2,331 shares of the company in a transaction dated Monday, May 16. The stock was sold at an average price of $34.00, for a total transaction of $79,254.00. Following the completion of the sale, the COO now directly owns 13,263 shares of the company, valued at approximately $450,942. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, VPE Issachar Ohana sold 6,000 CEVA shares in a transaction dated Wednesday, March 16. The shares were sold at an average price of $38.68, for a total value of $232,080.00. Disclosure of this sale can be found here. 2.80% of the shares are currently held by insiders of the company.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. AXA SA acquired a new position in CEVA in the 3rd quarter worth approximately $1,920,000. Lazard Asset Management LLC increased its stake in CEVA shares by 57.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,874 shares of the semiconductor company valued at $81,000 after purchasing an additional 685 shares during the period. Assenagon Asset Management SA increased its stake in CEVA shares by 452.7% in the 4th quarter. Assenagon Asset Management SA now owns 256,962 shares of the semiconductor company valued at $11,111,000 after purchasing an additional 210,467 shares during the period. SG Americas Securities LLC increased its stake in CEVA shares by 7.9% in the 4th quarter. SG Americas Securities LLC now owns 21,838 shares of the semiconductor company valued at $944,000 after purchasing an additional 1,594 shares during the period. Finally, Granahan Investment Management Inc. MA increased its stake in CEVA shares by 43.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 260,367 shares of the semiconductor company valued at $11,110,000 after purchasing an additional 78,725 shares during the period. 80.65% of the shares are held by institutional investors.
CEVA company profile (Get a rating)
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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