Ceva, Inc. (NASDAQ:CEVA) Given Average Rating of “Moderate Buy” by Analysts

Ceva, Inc. (NASDAQ:CEVA) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $30.2857.

Several equities research analysts have commented on CEVA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. UBS Group started coverage on Ceva in a report on Wednesday, February 25th. They set a “buy” rating and a $27.00 price target for the company. TD Cowen started coverage on Ceva in a research report on Friday. They issued a “buy” rating and a $22.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Ceva in a research note on Thursday, March 12th. Finally, Loop Capital started coverage on shares of Ceva in a research report on Monday, December 1st. They set a “buy” rating and a $28.00 price objective on the stock.

Institutional Investors Weigh In On Ceva

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Ceva by 2,735.2% in the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after acquiring an additional 574,592 shares during the last quarter. Defiance ETFs LLC bought a new position in Ceva in the 4th quarter valued at approximately $10,420,000. Penserra Capital Management LLC purchased a new stake in Ceva during the 3rd quarter valued at $11,410,000. Handelsbanken Fonder AB boosted its stake in Ceva by 1,287.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock valued at $9,387,000 after purchasing an additional 329,802 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Ceva by 44.1% in the 4th quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after purchasing an additional 305,540 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Stock Performance

CEVA stock opened at $18.57 on Wednesday. The firm has a 50 day moving average price of $21.14 and a 200-day moving average price of $23.26. Ceva has a 52-week low of $17.85 and a 52-week high of $30.88. The firm has a market capitalization of $515.32 million, a price-to-earnings ratio of -43.19 and a beta of 1.49.

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

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.