Canaccord Genuity Thinks Ceva’s Stock is Going to Recover
In a report released today, Michael Walkley from Canaccord Genuity reiterated a Buy rating on Ceva (NASDAQ: CEVA), with a price target of $48. The company’s shares opened today at $30.05, close to its 52-week low of $27.35.
According to TipRanks.com, Walkley is a top 100 analyst with an average return of 17.1% and a 62.7% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Digi International Inc, and Skyworks Solutions.
Currently, the analyst consensus on Ceva is Moderate Buy and the average price target is $46, representing a 53.1% upside.
In a report released today, Roth Capital also maintained a Buy rating on the stock with a $44 price target.
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Ceva’s market cap is currently $755.7M and has a P/E ratio of 45.07. The company has a Price to Book ratio of 3.09.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock.
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CEVA, Inc. engages in the provision of signal processing internet protocol. It operates through the following geographical segments: United States, Europe and Middle East, and Asia Pacific. Its products include digital signal processing cores, connectivity platforms, and development environment.