Canaccord Genuity started coverage on shares of CEVA (NASDAQ:CEVA) in a research report sent to investors on Friday morning. The brokerage issued a buy rating and a $50.00 target price on the semiconductor company’s stock.

A number of other research firms also recently issued reports on CEVA. Zacks Investment Research downgraded shares of CEVA from a hold rating to a strong sell rating in a research note on Friday, January 26th. Barclays decreased their price target on shares of CEVA from $54.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, February 7th. UBS Group downgraded shares of CEVA from an outperform rating to a market perform rating in a research note on Wednesday, January 24th. BidaskClub downgraded shares of CEVA from a hold rating to a sell rating in a research note on Monday, February 5th. Finally, Oppenheimer downgraded shares of CEVA from an outperform rating to a hold rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. CEVA has a consensus rating of Hold and a consensus price target of $47.57.

CEVA (CEVA) opened at $36.43 on Friday. CEVA has a 1-year low of $32.80 and a 1-year high of $51.80. The company has a market cap of $800.44, a price-to-earnings ratio of 45.53, a PEG ratio of 2.87 and a beta of 0.72.

CEVA (NASDAQ:CEVA) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $21.60 million for the quarter, compared to the consensus estimate of $21.17 million. CEVA had a net margin of 19.46% and a return on equity of 7.82%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. analysts anticipate that CEVA will post 0.63 earnings per share for the current fiscal year.

In other CEVA news, EVP Issachar Ohana sold 1,965 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $50.10, for a total transaction of $98,446.50. Following the transaction, the executive vice president now owns 28,289 shares in the company, valued at $1,417,278.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sven Christer Nilsson sold 27,285 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $47.50, for a total transaction of $1,296,037.50. Following the transaction, the director now owns 28,282 shares in the company, valued at approximately $1,343,395. The disclosure for this sale can be found here. Insiders have sold 58,467 shares of company stock worth $2,834,039 in the last quarter. Company insiders own 3.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CEVA. Lord Abbett & CO. LLC increased its position in CEVA by 61.0% during the second quarter. Lord Abbett & CO. LLC now owns 1,334,384 shares of the semiconductor company’s stock valued at $60,648,000 after acquiring an additional 505,443 shares during the last quarter. Pictet Asset Management Ltd. increased its position in CEVA by 17.8% during the third quarter. Pictet Asset Management Ltd. now owns 599,428 shares of the semiconductor company’s stock valued at $25,656,000 after acquiring an additional 90,690 shares during the last quarter. BlackRock Inc. increased its position in CEVA by 2.7% during the fourth quarter. BlackRock Inc. now owns 2,793,672 shares of the semiconductor company’s stock valued at $128,927,000 after acquiring an additional 74,613 shares during the last quarter. Uniplan Investment Counsel Inc. increased its position in CEVA by 64.0% during the third quarter. Uniplan Investment Counsel Inc. now owns 190,120 shares of the semiconductor company’s stock valued at $8,137,000 after acquiring an additional 74,184 shares during the last quarter. Finally, Royce & Associates LP increased its position in CEVA by 6,100.0% during the fourth quarter. Royce & Associates LP now owns 62,000 shares of the semiconductor company’s stock valued at $2,861,000 after acquiring an additional 61,000 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

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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).

Analyst Recommendations for CEVA (NASDAQ:CEVA)

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