Zacks Investment Research Downgrades CEVA (CEVA) to Sell

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

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 research firms have also weighed in on CEVA. BidaskClub upgraded shares of CEVA from a sell rating to a hold rating in a research note on Thursday, April 19th. Northland Securities began coverage on shares of CEVA in a research note on Tuesday, June 5th. They issued an outperform rating and a $39.00 price objective for the company. Cowen began coverage on shares of CEVA in a research note on Thursday, May 17th. They issued an outperform rating and a $43.00 price objective for the company. ValuEngine upgraded shares of CEVA from a sell rating to a hold rating in a research note on Tuesday, May 15th. Finally, Benchmark lowered their price objective on shares of CEVA from $50.00 to $40.00 and set a buy rating for the company in a research note on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $39.43.

NASDAQ:CEVA opened at $29.30 on Friday. The firm has a market capitalization of $652.13 million, a PE ratio of 113.85, a P/E/G ratio of 21.14 and a beta of 1.06. CEVA has a twelve month low of $26.10 and a twelve month high of $51.80.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $17.49 million during the quarter, compared to the consensus estimate of $18.95 million. CEVA had a net margin of 5.87% and a return on equity of 2.43%. analysts expect that CEVA will post 0.07 earnings per share for the current fiscal year.

In related news, EVP Issachar Ohana sold 1,500 shares of CEVA stock in a transaction on Friday, June 1st. The shares were sold at an average price of $34.00, for a total value of $51,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP grew its position in CEVA by 813.1% in the 1st quarter. Quantbot Technologies LP now owns 3,351 shares of the semiconductor company’s stock valued at $121,000 after purchasing an additional 2,984 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in CEVA in the 2nd quarter valued at $156,000. WINTON GROUP Ltd acquired a new stake in CEVA in the 1st quarter valued at $203,000. Victory Capital Management Inc. grew its position in CEVA by 37.1% in the 1st quarter. Victory Capital Management Inc. now owns 5,746 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 1,555 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in CEVA in the 2nd quarter valued at $192,000. 86.94% of the stock is owned by institutional investors and hedge funds.

About 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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