CEVA, Inc. (NASDAQ:CEVA) shares traded down 13.6% during mid-day trading on Wednesday . The stock traded as low as $22.76 and last traded at $24.00. 1,211,182 shares traded hands during trading, an increase of 735% from the average session volume of 145,054 shares. The stock had previously closed at $27.78.
Several research analysts have recently issued reports on the company. Northland Securities reaffirmed a “hold” rating and set a $27.00 price objective on shares of CEVA in a research report on Thursday. Exane BNP Paribas cut CEVA from an “outperform” rating to a “neutral” rating in a research report on Wednesday. BNP Paribas reaffirmed a “neutral” rating on shares of CEVA in a research report on Wednesday. BidaskClub raised CEVA from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Finally, Cowen lowered their price objective on CEVA from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, February 14th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.43.
The stock has a market cap of $622.05 million, a PE ratio of 211.82 and a beta of 1.74.
CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, February 13th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. The firm had revenue of $21.40 million during the quarter, compared to analysts’ expectations of $22.07 million. CEVA had a return on equity of 1.00% and a net margin of 0.74%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. As a group, research analysts predict that CEVA, Inc. will post -0.08 EPS for the current fiscal year.
In related news, EVP Issachar Ohana sold 6,670 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.00, for a total value of $186,760.00. Following the completion of the sale, the executive vice president now directly owns 34,616 shares of the company’s stock, valued at approximately $969,248. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in CEVA by 5.2% during the 4th quarter. BlackRock Inc. now owns 3,403,582 shares of the semiconductor company’s stock worth $75,185,000 after acquiring an additional 167,582 shares during the period. Millennium Management LLC lifted its position in CEVA by 1,606.6% during the 4th quarter. Millennium Management LLC now owns 119,152 shares of the semiconductor company’s stock worth $2,632,000 after acquiring an additional 112,170 shares during the period. Roubaix Capital LLC acquired a new stake in CEVA during the 1st quarter worth approximately $2,887,000. Thrivent Financial for Lutherans lifted its position in CEVA by 629.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 111,204 shares of the semiconductor company’s stock worth $3,197,000 after acquiring an additional 95,960 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in CEVA by 11.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 710,928 shares of the semiconductor company’s stock worth $20,439,000 after acquiring an additional 71,955 shares during the period. 88.58% of the stock is owned by hedge funds and other institutional investors.
About CEVA (NASDAQ: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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