Ceva (NASDAQ:CEVA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ceva (NASDAQ:CEVA) from a hold rating to a buy rating in a research report report published on Saturday.

Several other brokerages have also issued reports on CEVA. Benchmark reaffirmed a “hold” rating on shares of Ceva in a report on Tuesday, August 11th. Stifel Nicolaus upped their target price on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Oppenheimer decreased their target price on Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Needham & Company LLC cut their price target on Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. began coverage on Ceva in a research note on Friday, May 8th. They issued a “neutral” rating and a $30.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ceva has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Ceva Trading Down 1.7%

Shares of NASDAQ:CEVA opened at $32.71 on Friday. The firm has a 50 day simple moving average of $40.16 and a 200-day simple moving average of $31.18. Ceva has a twelve month low of $17.02 and a twelve month high of $51.60. The company has a market capitalization of $920.79 million, a PE ratio of -81.77 and a beta of 1.99.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The firm had revenue of $29.03 million for the quarter, compared to the consensus estimate of $28.19 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts predict that Ceva will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceva

Several large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its holdings in shares of Ceva by 77.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 632 shares during the period. Global Retirement Partners LLC purchased a new position in Ceva during the 2nd quarter worth $49,000. Tower Research Capital LLC TRC lifted its stake in shares of Ceva by 422.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 2,208 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Ceva by 771.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after acquiring an additional 2,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ceva by 47.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 2,172 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Company Profile

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.