CEVA, Inc. (NASDAQ:CEVA) Receives $59.83 Average Price Target from Analysts

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.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of CEVA by 6.0% during the first quarter. BlackRock Inc. now owns 3,625,912 shares of the semiconductor company’s stock worth $203,595,000 after purchasing an additional 205,638 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of CEVA by 24.8% during the first quarter. Lord Abbett & CO. LLC now owns 1,516,426 shares of the semiconductor company’s stock worth $85,147,000 after purchasing an additional 301,423 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CEVA by 11.0% during the first quarter. Geode Capital Management LLC now owns 369,402 shares of the semiconductor company’s stock worth $20,741,000 after purchasing an additional 36,717 shares during the period. Psagot Investment House Ltd. lifted its holdings in shares of CEVA by 528.5% during the first quarter. Psagot Investment House Ltd. now owns 265,250 shares of the semiconductor company’s stock worth $14,894,000 after purchasing an additional 223,043 shares during the period. Finally, Penserra Capital Management LLC lifted its holdings in shares of CEVA by 24.9% during the first quarter. Penserra Capital Management LLC now owns 166,121 shares of the semiconductor company’s stock worth $9,327,000 after purchasing an additional 33,099 shares during the period. Institutional investors and hedge funds own 78.71% of the company’s stock.

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.

About CEVA

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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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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