CEVA (CEVA) was Reiterated by Topeka Capital Markets to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 28 from a previous price target of $27 . Topeka Capital Markets advised their investors in a research report released on May 2, 2016.
On the company’s financial health, CEVA reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.16. The company had revenue of $16.50 million for the quarter, compared to analysts expectations of $16.38 million. The company’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.
CEVA opened for trading at $22.64 and hit $23.2 on the upside on Wednesday, eventually ending the session at $23.15, with a gain of 1.14% or 0.26 points. The heightened volatility saw the trading volume jump to 76,803 shares. Company has a market cap of $475 M.
In a different news, on Nov 24, 2015, Eliyahu Ayalon (director) sold 19,168 shares at $25.04 per share price. According to the SEC, on Nov 12, 2015, Gideon Wertheizer (Chief Executive Officer) sold 36,113 shares at $25.90 per share price. On Nov 10, 2015, Bruce Mann (director) sold 19,985 shares at $24.90 per share price, according to the Form-4 filing with the securities and exchange commission.
CEVA Inc. is a licensor of cellular multimedia and connectivity technologies to semiconductor companies and original equipment manufacturers (OEMs) serving the mobile consumer automotive and Internet of things (IoT) markets. The Company licenses a family of programmable digital signal processing (DSP) cores and application-specific platforms vision imaging audio and voice as well as communications technologies including wireless and wired modems Wi-Fi Bluetooth and Serial ATA (SATA) and Serial Attached SCSI (SAS). Its DSP intellectual property (IP) portfolio includes platforms for multimode 2G/3G /LTE/LTE-A baseband processing in cellular and infrastructure computer vision and computational photography for camera-enabled device audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. For connectivity the Company offers IPs for Bluetooth (Smart and Smart Ready) Wi-Fi (802.11 b/g/n/ac up to 4×4) and serial storage (SATA and SAS).