Ceva (NASDAQ:CEVA) Now Covered by TD Cowen

TD Cowen began coverage on shares of Ceva (NASDAQ:CEVA) in a research report released on Friday, MarketBeat reports. The brokerage issued a buy rating and a $22.00 target price on the semiconductor company’s stock.

CEVA has been the subject of several other reports. Rosenblatt Securities restated a “buy” rating and set a $40.00 target price on shares of Ceva in a report on Thursday, March 12th. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of Ceva in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. UBS Group began coverage on Ceva in a research note on Wednesday, February 25th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on shares of Ceva in a research note on Tuesday, February 10th. They issued a “buy” rating and a $30.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.29.

Ceva Stock Performance

CEVA opened at $18.57 on Friday. The company has a market cap of $515.39 million, a price-to-earnings ratio of -43.19 and a beta of 1.49. Ceva has a one year low of $17.85 and a one year high of $30.88. The business’s fifty day moving average is $21.14 and its two-hundred day moving average is $23.24.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $31.29 million during the quarter, compared to analysts’ expectations of $31.03 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. On average, analysts predict that Ceva will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceva

Several hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC purchased a new position in Ceva during the third quarter worth about $11,410,000. Herald Investment Management Ltd boosted its stake in Ceva by 12.5% in the 3rd quarter. Herald Investment Management Ltd now owns 450,000 shares of the semiconductor company’s stock worth $11,884,000 after buying an additional 50,000 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Ceva by 1,287.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock valued at $9,387,000 after buying an additional 329,802 shares during the period. AWM Investment Company Inc. grew its holdings in Ceva by 8.5% in the 2nd quarter. AWM Investment Company Inc. now owns 667,162 shares of the semiconductor company’s stock valued at $14,664,000 after buying an additional 52,000 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of Ceva by 835.6% during the 2nd quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock valued at $1,894,000 after acquiring an additional 76,942 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

About Ceva

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.