Ceva (NASDAQ:CEVA) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Ceva (NASDAQ:CEVA) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $40.00 target price on the semiconductor company’s stock.

A number of other research firms have also recently commented on CEVA. Loop Capital started coverage on shares of Ceva in a research note on Monday, December 1st. They set a “buy” rating and a $28.00 price target for the company. Stifel Nicolaus started coverage on shares of Ceva in a research report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Barclays boosted their target price on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.67.

Ceva Stock Performance

NASDAQ:CEVA opened at $18.40 on Thursday. The firm has a market capitalization of $510.60 million, a PE ratio of -42.79 and a beta of 1.49. The stock’s fifty day moving average is $21.68 and its 200 day moving average is $23.41. Ceva has a fifty-two week low of $18.23 and a fifty-two week high of $31.28.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The company had revenue of $31.29 million during the quarter, compared to analyst estimates of $31.03 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Ceva’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast that Ceva will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Ceva

Large investors have recently bought and sold shares of the business. VARCOV Co. purchased a new stake in Ceva during the fourth quarter worth $498,000. Tudor Investment Corp ET AL purchased a new position in shares of Ceva in the 4th quarter valued at $305,000. Quadrature Capital Ltd bought a new position in shares of Ceva in the 4th quarter worth $383,000. Numerai GP LLC purchased a new stake in shares of Ceva during the 4th quarter worth $1,042,000. Finally, Millennium Management LLC lifted its stake in shares of Ceva by 2,735.2% during the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after purchasing an additional 574,592 shares during the last quarter. Institutional investors 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.