CEVA’s (CEVA) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of CEVA (NASDAQ:CEVA) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $45.00 price target on the semiconductor company’s stock.

Several other brokerages have also issued reports on CEVA. Barclays increased their target price on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, CEVA has an average rating of “Moderate Buy” and a consensus target price of $38.60.

CEVA Stock Performance

Shares of CEVA stock opened at $26.71 on Wednesday. The stock has a market capitalization of $638.64 million, a price-to-earnings ratio of -72.19 and a beta of 1.46. CEVA has a 52-week low of $16.02 and a 52-week high of $38.94. The company’s 50 day moving average price is $27.98 and its 200-day moving average price is $29.30.

CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. As a group, equities research analysts forecast that CEVA will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Louis Silver sold 4,520 shares of CEVA stock in a transaction on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the transaction, the director now owns 47,038 shares in the company, valued at $1,457,237.24. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CEVA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in shares of CEVA by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company’s stock valued at $1,071,000 after buying an additional 507 shares in the last quarter. Magnetar Financial LLC lifted its position in shares of CEVA by 2.8% in the fourth quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company’s stock worth $623,000 after buying an additional 531 shares in the last quarter. Tidal Investments LLC boosted its stake in CEVA by 4.6% during the third quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock valued at $441,000 after buying an additional 808 shares during the last quarter. GAMMA Investing LLC grew its holdings in CEVA by 63.3% during the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 922 shares in the last quarter. Finally, Two Sigma Securities LLC boosted its position in shares of CEVA by 11.6% during the 4th quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company’s stock valued at $297,000 after acquiring an additional 978 shares during the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

About CEVA

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.