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. “
CEVA has been the topic of several other reports. Roth Capital reduced their price target on CEVA from $100.00 to $70.00 and set a buy rating on the stock in a report on Monday, May 10th. They noted that the move was a valuation call. Barclays upgraded CEVA from an equal weight rating to an overweight rating and reduced their price target for the stock from $64.00 to $56.00 in a report on Tuesday, May 11th. Cowen reduced their price target on CEVA from $88.00 to $70.00 and set an outperform rating on the stock in a report on Tuesday, May 11th. Finally, Northland Securities upgraded CEVA from a market perform rating to an outperform rating and reduced their price target for the stock from $78.00 to $58.00 in a report on Tuesday, May 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $60.00.
CEVA (NASDAQ:CEVA) last issued its earnings results on Sunday, May 9th. The semiconductor company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.05). The business had revenue of $25.40 million for the quarter, compared to analyst estimates of $24.01 million. CEVA had a negative return on equity of 0.76% and a negative net margin of 4.72%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. As a group, analysts predict that CEVA will post 0.02 earnings per share for the current fiscal year.
In other CEVA news, COO Michael Boukaya sold 2,331 shares of the stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $43.56, for a total transaction of $101,538.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Yaniv Arieli sold 9,197 shares of the stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $62.00, for a total value of $570,214.00. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in shares of CEVA by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 161,428 shares of the semiconductor company’s stock worth $9,064,000 after buying an additional 2,749 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of CEVA by 34.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,419 shares of the semiconductor company’s stock worth $304,000 after buying an additional 1,400 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of CEVA during the first quarter worth approximately $218,000. Squarepoint Ops LLC acquired a new position in shares of CEVA during the first quarter worth approximately $409,000. Finally, Morgan Stanley raised its position in shares of CEVA by 68.2% during the first quarter. Morgan Stanley now owns 151,510 shares of the semiconductor company’s stock worth $8,506,000 after purchasing an additional 61,449 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.
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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