CEVA, Inc. (NASDAQ:CEVA) Downgraded by Zacks Investment Research

CEVA, Inc. (NASDAQ:CEVA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday, November 6th.

According to Zacks, “CEVA is the leading licensor of signal processing IP for a smarter, connected world. They partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, industrial and IoT. Their ultra-low-power IPs for vision, audio, communications and connectivity include comprehensive 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-enabled device, audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. “

Other equities analysts have also recently issued reports about the stock. Roth Capital upped their price objective on shares of CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 31st. BidaskClub cut shares of CEVA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $45.00 price objective on shares of CEVA in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. CEVA has an average rating of “Buy” and an average price target of $46.71.

Shares of CEVA (NASDAQ:CEVA) traded up $0.35 during trading on Monday, reaching $50.10. 105,087 shares of the company were exchanged, compared to its average volume of 198,332. CEVA has a 12-month low of $29.00 and a 12-month high of $50.30. The stock has a market cap of $1,110.00, a PE ratio of 55.28, a price-to-earnings-growth ratio of 3.23 and a beta of 0.77.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. CEVA had a net margin of 21.89% and a return on equity of 9.02%. The firm had revenue of $24.00 million during the quarter, compared to analysts’ expectations of $21.56 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 34.1% on a year-over-year basis. analysts predict that CEVA will post 0.77 EPS for the current year.

In other news, Director Eliyahu Ayalon sold 9,215 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $46.00, for a total transaction of $423,890.00. Following the transaction, the director now owns 11,586 shares of the company’s stock, valued at $532,956. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sven Christer Nilsson sold 27,285 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $47.50, for a total transaction of $1,296,037.50. Following the transaction, the director now directly owns 28,282 shares in the company, valued at approximately $1,343,395. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,717 shares of company stock valued at $3,159,483. 3.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of CEVA during the third quarter worth about $239,000. Neuberger Berman Group LLC lifted its position in shares of CEVA by 5.0% during the third quarter. Neuberger Berman Group LLC now owns 480,063 shares of the semiconductor company’s stock worth $20,547,000 after purchasing an additional 22,733 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of CEVA by 4.0% during the third quarter. California Public Employees Retirement System now owns 61,645 shares of the semiconductor company’s stock worth $2,638,000 after purchasing an additional 2,345 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of CEVA during the third quarter worth about $213,000. Finally, Granahan Investment Management Inc. MA lifted its position in shares of CEVA by 3.0% during the third quarter. Granahan Investment Management Inc. MA now owns 113,071 shares of the semiconductor company’s stock worth $4,839,000 after purchasing an additional 3,316 shares during the last quarter. 87.81% of the stock is currently owned by institutional investors and hedge funds.

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About CEVA

CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).

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