In a report released yesterday, Sujeeva De Silva from Roth Capital reiterated a Buy rating on Ceva (NASDAQ: CEVA), with a price target of $35. The company’s shares closed yesterday at $27.60, close to its 52-week low of $26.10.
According to TipRanks.com, Silva is a 5-star analyst with an average return of 17.8% and a 64.8% success rate. Silva covers the Consumer Goods sector, focusing on stocks such as Quantenna Communications, Adesto Technologies Corp, and Akoustis Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ceva with a $36.60 average price target, representing a 32.6% upside. In a report released yesterday, Canaccord Genuity also reiterated a Buy rating on the stock with a $36 price target.
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Based on Ceva’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.09 million. In comparison, last year the company had a net profit of $3.91 million.
Based on the recent corporate insider activity of 19 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.
