CEVA (CEVA) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of CEVA (NASDAQ:CEVA) from a hold rating to a sell rating in a report released on Tuesday morning.

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. “

Several other equities analysts have also recently issued reports on CEVA. Benchmark decreased their price objective on CEVA from $50.00 to $40.00 and set a buy rating for the company in a report on Wednesday, May 9th. Barclays set a $40.00 price objective on CEVA and gave the company a buy rating in a report on Thursday, May 10th. Roth Capital decreased their price objective on CEVA to $44.00 and set a buy rating for the company in a report on Wednesday, May 9th. BidaskClub cut CEVA from a hold rating to a sell rating in a report on Saturday, May 12th. Finally, ValuEngine raised CEVA from a sell rating to a hold rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. CEVA has a consensus rating of Hold and an average target price of $43.83.

Shares of CEVA remained flat at $$33.25 on Tuesday, Marketbeat Ratings reports. The stock had a trading volume of 514 shares, compared to its average volume of 190,474. The firm has a market cap of $727.74 million, a PE ratio of 62.98, a PEG ratio of 4.82 and a beta of 0.91. CEVA has a fifty-two week low of $32.25 and a fifty-two week high of $32.55.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Wednesday, May 9th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.07). The company had revenue of $17.57 million during the quarter, compared to analyst estimates of $18.83 million. CEVA had a net margin of 12.82% and a return on equity of 4.97%. The business’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. research analysts forecast that CEVA will post 0.34 earnings per share for the current fiscal year.

In related news, EVP Issachar Ohana sold 768 shares of the company’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $41.50, for a total value of $31,872.00. Following the completion of the transaction, the executive vice president now owns 27,929 shares of the company’s stock, valued at approximately $1,159,053.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Large investors have recently bought and sold shares of the business. Candriam Luxembourg S.C.A. lifted its holdings in CEVA by 10.3% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 135,491 shares of the semiconductor company’s stock valued at $6,253,000 after acquiring an additional 12,694 shares during the last quarter. Wells Fargo & Company MN lifted its stake in CEVA by 46.0% during the third quarter. Wells Fargo & Company MN now owns 25,542 shares of the semiconductor company’s stock worth $1,093,000 after purchasing an additional 8,043 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in CEVA by 324.0% during the fourth quarter. Pinebridge Investments L.P. now owns 11,553 shares of the semiconductor company’s stock worth $533,000 after purchasing an additional 8,828 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in CEVA by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 617,663 shares of the semiconductor company’s stock worth $26,436,000 after purchasing an additional 13,633 shares in the last quarter. Finally, Renaissance Group LLC acquired a new position in CEVA during the fourth quarter worth $396,000. Institutional investors own 88.48% of the company’s stock.

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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