Shares of CEVA, Inc. (NASDAQ:CEVA) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $59.83.
Several equities analysts have recently commented on the company. Rosenblatt Securities assumed coverage on CEVA in a research note on Tuesday, June 22nd. They set a “neutral” rating and a $50.00 price target on the stock. Cowen cut their target price on CEVA from $88.00 to $70.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 11th. Zacks Investment Research upgraded CEVA from a “sell” rating to a “hold” rating in a research note on Wednesday, June 30th. Barclays upgraded CEVA from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $64.00 to $56.00 in a research note on Tuesday, May 11th. Finally, Northland Securities upgraded CEVA from a “market perform” rating to an “outperform” rating and cut their target price for the company from $78.00 to $58.00 in a research note on Tuesday, May 11th.
In other news, COO Michael Boukaya sold 2,331 shares of the business’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $43.56, for a total transaction of $101,538.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by insiders.
Shares of CEVA stock opened at $44.09 on Monday. CEVA has a 12 month low of $35.62 and a 12 month high of $83.95. The company’s fifty day moving average price is $44.42.
CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Sunday, May 9th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). The firm had revenue of $25.40 million for the quarter, compared to analysts’ expectations of $24.01 million. CEVA had a negative net margin of 4.72% and a negative return on equity of 0.76%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 EPS. As a group, analysts forecast that CEVA will post 0.02 EPS for the current year.
CEVA, Inc operates as a licensor of wireless connectivity and smart sensing platforms 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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