Ceva (NASDAQ:CEVA) Stock Gets Price Target Trim from UBS Group

Ceva (NASDAQ:CEVA) had its target price lowered by UBS Group from $40.00 to $35.00 in a research report sent to investors on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the semiconductor company’s stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Ceva from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday. Rosenblatt Securities upped their price target on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. TD Cowen decreased their price target on shares of Ceva from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 price target (down from $38.00) on shares of Ceva in a research note on Tuesday. Finally, Benchmark upgraded Ceva from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.33.

Ceva Price Performance

Ceva stock opened at $26.32 on Tuesday. The company’s fifty day moving average price is $30.40 and its 200 day moving average price is $30.65. Ceva has a 1 year low of $17.02 and a 1 year high of $51.60.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, November 9th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $29.06 million for the quarter, compared to analyst estimates of $32.71 million. Ceva had a negative return on equity of 2.70% and a negative net margin of 9.25%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. On average, sell-side analysts predict that Ceva will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Ceva

Several large investors have recently bought and sold shares of the business. Tidal Investments LLC lifted its stake in Ceva by 202.0% in the 2nd quarter. Tidal Investments LLC now owns 58,121 shares of the semiconductor company’s stock worth $2,741,000 after purchasing an additional 38,876 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Ceva during the 2nd quarter worth approximately $4,482,000. BlackRock Inc. acquired a new position in shares of Ceva during the 2nd quarter worth approximately $113,995,000. Hsbc Holdings PLC purchased a new stake in shares of Ceva in the fourth quarter valued at approximately $777,000. Finally, Deutsche Bank AG purchased a new stake in shares of Ceva in the second quarter valued at approximately $33,941,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

About Ceva

CEVA, Inc. develops and licenses semiconductor intellectual property and software for connected and intelligent devices. Rather than manufacturing chips, the company provides technology that semiconductor companies and other customers can incorporate into their own products. Its portfolio includes digital signal processors and platforms for wireless connectivity, including cellular, Wi-Fi, Bluetooth and ultra-wideband, as well as technologies for audio, imaging, computer vision, sensor processing and edge artificial intelligence.