Ceva, Inc. (NASDAQ:CEVA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Ceva, Inc. (NASDAQ:CEVA) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $31.6667.

CEVA has been the subject of several analyst reports. Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Ceva in a report on Wednesday, February 18th. Barclays upped their target price on shares of Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Stifel Nicolaus started coverage on shares of Ceva in a research report on Tuesday, February 10th. They set a “buy” rating and a $30.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. Finally, Loop Capital began coverage on Ceva in a research note on Monday, December 1st. They set a “buy” rating and a $28.00 target price on the stock.

Ceva Price Performance

Shares of Ceva stock opened at $21.32 on Friday. Ceva has a 1 year low of $18.23 and a 1 year high of $38.94. The firm has a market cap of $512.11 million, a price-to-earnings ratio of -49.58 and a beta of 1.50. The company has a 50-day moving average of $21.98 and a 200 day moving average of $23.64.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $31.29 million for 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. On average, equities analysts anticipate that Ceva will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Ceva

Several large investors have recently bought and sold shares of CEVA. Penserra Capital Management LLC purchased a new stake in shares of Ceva during the 3rd quarter valued at about $11,410,000. Herald Investment Management Ltd raised its holdings in shares of Ceva by 12.5% during the third quarter. Herald Investment Management Ltd now owns 450,000 shares of the semiconductor company’s stock valued at $11,884,000 after purchasing an additional 50,000 shares during the last quarter. Acadian Asset Management LLC lifted its position in Ceva by 24.0% during the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock valued at $14,346,000 after purchasing an additional 126,267 shares during the period. AWM Investment Company Inc. boosted its holdings in Ceva by 8.5% in the second quarter. AWM Investment Company Inc. now owns 667,162 shares of the semiconductor company’s stock worth $14,664,000 after purchasing an additional 52,000 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Ceva by 835.6% in the second quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock worth $1,894,000 after purchasing an additional 76,942 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

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.