CEVA (NASDAQ:CEVA) Stock Rating Upgraded by Zacks Investment Research
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. “
A number of other research firms also recently weighed in on CEVA. BNP Paribas reaffirmed a neutral rating on shares of CEVA in a research note on Wednesday, April 17th. BidaskClub raised Misonix from a buy rating to a strong-buy rating in a research note on Wednesday, July 3rd. Cowen reaffirmed a hold rating and set a $353.00 price target on shares of Regeneron Pharmaceuticals in a research note on Tuesday, May 7th. Northland Securities reaffirmed a hold rating and set a $27.00 price target on shares of CEVA in a research note on Thursday, April 18th. Finally, ValuEngine raised VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research note on Thursday, May 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $31.67.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). CEVA had a return on equity of 0.88% and a net margin of 0.59%. The firm had revenue of $17.00 million for the quarter, compared to analyst estimates of $17.65 million. During the same period last year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities analysts predict that CEVA will post -0.11 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in shares of CEVA by 20.2% during the 4th quarter. Rhumbline Advisers now owns 62,803 shares of the semiconductor company’s stock worth $1,387,000 after purchasing an additional 10,550 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in shares of CEVA during the 4th quarter worth $184,000. BlackRock Inc. grew its stake in shares of 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 purchasing an additional 167,582 shares during the period. Texas Permanent School Fund grew its stake in shares of CEVA by 3.4% during the 4th quarter. Texas Permanent School Fund now owns 14,332 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 470 shares during the period. Finally, Citigroup Inc. grew its stake in shares of CEVA by 250.2% during the 4th quarter. Citigroup Inc. now owns 13,556 shares of the semiconductor company’s stock worth $299,000 after purchasing an additional 9,685 shares during the period. 85.12% of the stock is currently owned by institutional investors and hedge funds.
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 signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.
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