Is Major Move Coming For CEVA, Inc. (CEVA) After This Bearish Double Bottom Pattern?

July 14, 2018 - By Mona Holcomb

CEVA, Inc. (NASDAQ:CEVA) Logo

Investors sentiment increased to 1.4 in 2018 Q1. Its up 0.47, from 0.93 in 2017Q4. It improved, as 21 investors sold CEVA, Inc. shares while 29 reduced holdings. 18 funds opened positions while 52 raised stakes. 18.30 million shares or 0.51% less from 18.39 million shares in 2017Q4 were reported.
Bankshares Of America De, a North Carolina-based fund reported 9,033 shares. Deutsche Natl Bank Ag holds 0% or 24,948 shares in its portfolio. Voya Mngmt Ltd Limited Liability Company has invested 0% in CEVA, Inc. (NASDAQ:CEVA). Awm Inv holds 4.97% or 712,558 shares in its portfolio. Barclays Public Lc owns 37,680 shares or 0% of their US portfolio. Northern Trust Corp holds 0% in CEVA, Inc. (NASDAQ:CEVA) or 292,806 shares. Quantbot Tech Limited Partnership holds 0.01% or 3,351 shares. Moreover, Vanguard Gp has 0% invested in CEVA, Inc. (NASDAQ:CEVA). Jacobs Levy Equity holds 0.02% or 36,061 shares in its portfolio. Oberweis Asset Mgmt owns 155,316 shares for 1.48% of their portfolio. Sei stated it has 2,397 shares or 0% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) invested in 0% or 1,384 shares. Prudential Fincl reported 0% of its portfolio in CEVA, Inc. (NASDAQ:CEVA). Jpmorgan Chase has 0% invested in CEVA, Inc. (NASDAQ:CEVA). Arizona State Retirement Sys accumulated 0.01% or 35,015 shares.

Since March 8, 2018, it had 0 buys, and 3 selling transactions for $180,432 activity.

The chart of CEVA, Inc. (CEVA) shows a double bottom with $29.39 target or 7.00 % below today’s $31.60 share price. The 9 months chart pattern indicates high risk for the $702.18M company. It was reported on Jul, 14 by Finviz.com. If the $29.39 price target is reached, the company will be worth $49.15 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.63% or $0.2 during the last trading session, reaching $31.6. About 39,408 shares traded. CEVA, Inc. (NASDAQ:CEVA) has declined 19.86% since July 14, 2017 and is downtrending. It has underperformed by 32.43% the S&P500.

Analysts await CEVA, Inc. (NASDAQ:CEVA) to report earnings on August, 2. They expect $-0.02 earnings per share, down 111.11 % or $0.20 from last year’s $0.18 per share. After $-0.08 actual earnings per share reported by CEVA, Inc. for the previous quarter, Wall Street now forecasts -75.00 % EPS growth.

CEVA, Inc. (NASDAQ:CEVA) Ratings Coverage

Among 4 analysts covering CEVA (NASDAQ:CEVA), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. CEVA had 5 analyst reports since January 24, 2018 according to SRatingsIntel. As per Thursday, May 10, the company rating was maintained by Canaccord Genuity. The rating was initiated by Canaccord Genuity with “Buy” on Friday, February 9. The firm has “Perform” rating given on Wednesday, January 24 by Oppenheimer.

More news for CEVA, Inc. (NASDAQ:CEVA) were recently published by: Prnewswire.com, which released: “CEVA, Inc. Schedules Second Quarter 2018 Earnings Release and Conference Call” on June 30, 2018. Prnewswire.com‘s article titled: “CEVA Extends its Leadership in NB-IoT IP with CEVA-Dragonfly NB2, the World’s First eNB-IoT Rel14 Solution” and published on June 25, 2018 is yet another important article.

CEVA, Inc. licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers serving the mobile, consumer, automotive, industrial, and Internet-of Things (IoT) markets worldwide. The company has market cap of $702.18 million. The firm 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. It has a 67.96 P/E ratio. The Company’s technologies are licensed in the form of intellectual property (IP), which is used for the design, manufacture, market, and sale of application-specific integrated circuits and application-specific standard products to wireless, consumer electronics, and automotive companies for incorporation into various end products.

CEVA, Inc. (NASDAQ:CEVA) Institutional Positions Chart

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