Canaccord Genuity Boosts CEVA (CEVA) Price Target to $40.00

CEVA (NASDAQ:CEVA) had its price target boosted by Canaccord Genuity from $36.00 to $40.00 in a research report released on Tuesday morning. Canaccord Genuity currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also recently weighed in on CEVA. BidaskClub raised CEVA from a sell rating to a hold rating in a report on Tuesday, July 10th. Zacks Investment Research raised CEVA from a sell rating to a hold rating in a report on Tuesday, July 10th. Roth Capital dropped their price target 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 dropped their price target 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 assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $38.67.

NASDAQ:CEVA traded up $0.08 during mid-day trading on Tuesday, hitting $26.26. 267 shares of the stock were exchanged, compared to its average volume of 116,338. The stock has a market cap of $595.07 million, a P/E ratio of 32.95, a PEG ratio of 19.29 and a beta of 1.11. CEVA has a fifty-two week low of $23.81 and a fifty-two week high of $51.80.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.07). The firm had revenue of $17.49 million for the quarter, compared to analyst estimates of $18.95 million. CEVA had a return on equity of 2.43% and a net margin of 5.87%. As a group, equities research analysts predict that CEVA will post 0.07 earnings per share for the current fiscal year.

In other CEVA news, Director Maria Marced sold 2,770 shares of CEVA stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $29.50, for a total value of $81,715.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Piedmont Investment Advisors LLC acquired a new position in CEVA in the 2nd quarter valued at $156,000. WINTON GROUP Ltd bought a new position in shares of CEVA in the 1st quarter valued at $203,000. SG Americas Securities LLC bought a new position in shares of CEVA in the 2nd quarter valued at $192,000. GSA Capital Partners LLP bought a new position in shares of CEVA in the 2nd quarter valued at $221,000. Finally, BlueMountain Capital Management LLC increased its stake in shares of CEVA by 93.6% in the 2nd quarter. BlueMountain Capital Management LLC now owns 8,689 shares of the semiconductor company’s stock valued at $262,000 after purchasing an additional 4,201 shares during the last quarter. 86.73% of the stock is owned by hedge funds and other institutional investors.

CEVA Company Profile

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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