CEVA, Inc. (CEVA)’s Stock Is Buy After Forming Bullish Double Top Chart Pattern

September 17, 2017 - By Stephen Andrade

Investors sentiment decreased to 1.24 in Q4 2016. Its down 0.22, from 1.46 in 2016Q3. It turned negative, as 21 investors sold CEVA, Inc. shares while 37 reduced holdings. 25 funds opened positions while 47 raised stakes. 17.74 million shares or 0.84% less from 17.90 million shares in 2016Q3 were reported.
Federated Pa holds 23,878 shares. Missouri-based Stifel has invested 0% in CEVA, Inc. (NASDAQ:CEVA). Arizona State Retirement Systems stated it has 0.01% in CEVA, Inc. (NASDAQ:CEVA). Sheets Smith Wealth, a North Carolina-based fund reported 20,093 shares. Moreover, Gemmer Asset Mngmt Ltd Limited Liability Company has 0% invested in CEVA, Inc. (NASDAQ:CEVA). Marshall Wace Limited Liability Partnership holds 0% or 12,777 shares. Morgan Stanley invested 0% of its portfolio in CEVA, Inc. (NASDAQ:CEVA). State Board Of Administration Of Florida Retirement Sys reported 23,238 shares. Navellier & Associate Inc stated it has 6,176 shares. Cadence Capital Mgmt Limited Company holds 40,092 shares or 0.09% of its portfolio. Cornerstone Capital Mgmt Holdings Limited Co reported 7,100 shares or 0% of all its holdings. Thompson Davis And has invested 0.15% in CEVA, Inc. (NASDAQ:CEVA). Louisiana State Employees Retirement Sys reported 8,500 shares. Asset One has 3,640 shares for 0% of their portfolio. Susquehanna Int Gp Ltd Liability Partnership has invested 0% in CEVA, Inc. (NASDAQ:CEVA).

Since May 8, 2017, it had 0 buys, and 9 insider sales for $6.77 million activity. The insider OHANA ISSACHAR sold $224,318. 9,172 shares were sold by NILSSON SVEN CHRISTER, worth $388,709. WERTHEIZER GIDEON sold $37,941 worth of stock. The insider Arieli Yaniv sold $2.56M. Shares for $1.20 million were sold by MCMANAMON PETER. Shares for $427,814 were sold by MANN BRUCE.

The chart of CEVA, Inc. (CEVA) shows a double top with $45.73 target or 5.00 % above today’s $43.55 share price. The 9 months chart pattern indicates low risk for the $956.54M company. It was reported on Sep, 17 by Finviz.com. If the $45.73 price target is reached, the company will be worth $47.83 million more. Double tops are rare but powerful chart patterns.

The stock increased 2.23% or $0.95 on September 15, reaching $43.55. About 357,060 shares traded or 135.25% up from the average. CEVA, Inc. (NASDAQ:CEVA) has risen 66.60% since September 17, 2016 and is uptrending. It has outperformed by 49.90% the S&P500.

Wall Street await CEVA, Inc. (NASDAQ:CEVA) to release earnings on November, 1. Analysts forecast earnings per share of $0.18, up exactly $0.01 or 5.88 % from 2014’s $0.17 EPS. The expected CEVA’s profit could reach $3.95M giving the stock 60.49 P/E in the case that $0.18 earnings per share is reported. After posting $0.18 EPS for the previous quarter, CEVA, Inc.’s analysts now forecast 0.00 % EPS growth.

CEVA, Inc. (NASDAQ:CEVA) Ratings Coverage

Among 10 analysts covering Ceva (NASDAQ:CEVA), 10 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Ceva had 22 analyst reports since July 31, 2015 according to SRatingsIntel. Oppenheimer maintained the stock with “Outperform” rating in Tuesday, November 3 report. The stock has “Buy” rating by Canaccord Genuity on Thursday, September 3. Canaccord Genuity maintained CEVA, Inc. (NASDAQ:CEVA) on Monday, August 14 with “Buy” rating. The company was upgraded on Wednesday, December 16 by Wunderlich. Oppenheimer maintained it with “Buy” rating and $5000 target in Friday, August 4 report. The company was maintained on Tuesday, November 3 by Canaccord Genuity. Roth Capital initiated the shares of CEVA in report on Thursday, September 29 with “Buy” rating. The stock of CEVA, Inc. (NASDAQ:CEVA) earned “Buy” rating by Benchmark on Tuesday, November 10. Topeka Capital Markets maintained the shares of CEVA in report on Monday, May 2 with “Buy” rating. The stock has “Buy” rating by TH Capital on Thursday, September 29.

Another recent and important CEVA, Inc. (NASDAQ:CEVA) news was published by Prnewswire.com which published an article titled: “CEVA, Inc. to Present at Upcoming Investor Conferences” on August 23, 2017.

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