CEVA, Inc. (NASDAQ:CEVA) Receives $38.60 Average Target Price from Brokerages

CEVA, Inc. (NASDAQ:CEVA) has earned a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $38.60.

Several analysts have recently commented on CEVA shares. Rosenblatt Securities restated a “buy” rating and set a $45.00 price objective on shares of CEVA in a research report on Wednesday, April 23rd. Barclays boosted their price objective on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st.

CEVA Stock Down 0.4 %

Shares of NASDAQ:CEVA opened at $26.49 on Friday. The stock has a market capitalization of $633.38 million, a PE ratio of -71.59 and a beta of 1.46. The firm’s 50 day moving average price is $27.59 and its 200-day moving average price is $29.36. CEVA has a twelve month low of $16.02 and a twelve month high of $38.94.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. Analysts expect that CEVA will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 4,520 shares of the company’s 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 sale, the director now owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CEVA

A number of institutional investors and hedge funds have recently made changes to their positions in CEVA. D.A. Davidson & CO. grew its position in CEVA by 5.7% in the first quarter. D.A. Davidson & CO. now owns 63,437 shares of the semiconductor company’s stock worth $1,625,000 after acquiring an additional 3,423 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CEVA by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 117,894 shares of the semiconductor company’s stock worth $3,019,000 after purchasing an additional 2,629 shares during the period. Teacher Retirement System of Texas bought a new position in shares of CEVA during the 1st quarter valued at approximately $922,000. GAMMA Investing LLC increased its position in CEVA by 44.5% during the first quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 1,058 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC raised its stake in shares of CEVA by 16.9% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 89,254 shares of the semiconductor company’s stock valued at $2,286,000 after acquiring an additional 12,900 shares during the period. 85.37% of the stock is 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.