CEVA (CEVA) Upgraded to “Sell” at BidaskClub

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BidaskClub upgraded shares of CEVA (NASDAQ:CEVA) from a strong sell rating to a sell rating in a report issued on Wednesday morning.

A number of other equities research analysts have also recently commented on the stock. ValuEngine raised shares of CEVA from a hold rating to a buy rating in a research note on Thursday, November 1st. Canaccord Genuity increased their price objective on shares of CEVA from $36.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, October 16th. Zacks Investment Research raised shares of CEVA from a sell rating to a hold rating in a research note on Tuesday, October 9th. Roth Capital lowered their price objective on shares of CEVA from $44.00 to $35.00 and set a buy rating on the stock in a research note on Wednesday, August 8th. Finally, Barclays lowered their price objective on shares of CEVA from $40.00 to $35.00 and set an overweight rating on the stock in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $38.67.

Shares of CEVA opened at $26.69 on Wednesday. The stock has a market capitalization of $561.36 million, a PE ratio of 33.36, a P/E/G ratio of 18.20 and a beta of 1.38. CEVA has a 52-week low of $23.01 and a 52-week high of $51.80.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Thursday, November 8th. The semiconductor company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The firm had revenue of $21.40 million for the quarter, compared to analysts’ expectations of $21.37 million. CEVA had a net margin of 5.87% and a return on equity of 2.43%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. As a group, analysts forecast that CEVA will post 0.07 earnings per share for the current fiscal year.

In related news, Director Maria Marced sold 2,770 shares of the stock in a transaction dated Tuesday, August 14th. The shares were 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 SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of CEVA by 4.3% during the 2nd quarter. Rhumbline Advisers now owns 53,568 shares of the semiconductor company’s stock worth $1,618,000 after purchasing an additional 2,184 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of CEVA by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 43,790 shares of the semiconductor company’s stock worth $1,323,000 after purchasing an additional 2,410 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in shares of CEVA by 28.4% during the 2nd quarter. First Republic Investment Management Inc. now owns 10,954 shares of the semiconductor company’s stock worth $331,000 after purchasing an additional 2,423 shares during the last quarter. Skylands Capital LLC boosted its stake in shares of CEVA by 18.0% during the 2nd quarter. Skylands Capital LLC now owns 23,600 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 3,600 shares during the last quarter. Finally, BlueMountain Capital Management LLC boosted its stake in shares of CEVA by 93.6% during the 2nd quarter. BlueMountain Capital Management LLC now owns 8,689 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 4,201 shares during the last quarter. 87.08% of the stock is currently 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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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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