CEVA (NASDAQ:CEVA) had its target price upped by Canaccord Genuity from $36.00 to $40.00 in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity’s target price points to a potential upside of 60.26% from the company’s current price.

A number of other equities research analysts also recently weighed in on CEVA. BidaskClub upgraded CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Zacks Investment Research upgraded CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Roth Capital lowered their target price on CEVA from $44.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. Finally, Barclays lowered their target price on CEVA from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.67.

Shares of CEVA stock opened at $24.96 on Tuesday. The company has a market capitalization of $633.40 million, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 20.54 and a beta of 1.12. CEVA has a fifty-two week low of $23.81 and a fifty-two week high of $51.80.

CEVA (NASDAQ:CEVA) last issued its earnings results on Tuesday, August 7th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.07). The business had revenue of $17.49 million during the quarter, compared to the consensus estimate of $18.95 million. CEVA had a return on equity of 2.43% and a net margin of 5.87%. On average, equities analysts anticipate that CEVA will post 0.07 EPS for the current year.

In other news, Director Maria Marced sold 2,770 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $29.50, for a total transaction of $81,715.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings 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 buying an additional 246,611 shares in the last quarter. Summit Trail Advisors LLC boosted its position in CEVA by 2,352.4% in the first quarter. Summit Trail Advisors LLC now owns 717,944 shares of the semiconductor company’s stock worth $718,000 after purchasing an additional 688,669 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in CEVA by 10.9% in 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 last quarter. Dimensional Fund Advisors LP boosted its position in CEVA by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 638,973 shares of the semiconductor company’s stock worth $19,297,000 after purchasing an additional 5,082 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in CEVA by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 467,686 shares of the semiconductor company’s stock worth $14,123,000 after purchasing an additional 12,657 shares during the last quarter. Hedge funds and other institutional investors own 86.73% of the company’s stock.

About 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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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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