Ceva, Inc. (NASDAQ:CEVA) Receives $35.60 Consensus Price Target from Brokerages

Ceva, Inc. (NASDAQ:CEVAGet Free Report) has received an average rating of “Buy” from the five research firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $35.60.

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Ceva from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Ceva in a research note on Thursday, May 8th. Oppenheimer reduced their price target on shares of Ceva from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Finally, Barclays cut their price target on Ceva from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th.

View Our Latest Stock Report on Ceva

Institutional Trading of Ceva

Several hedge funds have recently modified their holdings of CEVA. Franklin Resources Inc. grew its holdings in shares of Ceva by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company’s stock worth $1,071,000 after acquiring an additional 507 shares during the period. Magnetar Financial LLC grew its holdings in Ceva by 2.8% in the fourth quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 531 shares during the last quarter. Two Sigma Securities LLC grew its holdings in Ceva by 11.6% in the fourth quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 978 shares during the last quarter. Barclays PLC increased its position in shares of Ceva by 2.5% in the fourth quarter. Barclays PLC now owns 42,929 shares of the semiconductor company’s stock valued at $1,354,000 after buying an additional 1,029 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Ceva by 44.5% in the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company’s stock worth $88,000 after buying an additional 1,058 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Trading Up 2.3%

Shares of NASDAQ:CEVA opened at $20.60 on Monday. The company has a market capitalization of $492.55 million, a price-to-earnings ratio of -73.57 and a beta of 1.23. Ceva has a 12-month low of $16.02 and a 12-month high of $38.94. The business has a 50-day moving average price of $22.09 and a 200 day moving average price of $28.07.

Ceva (NASDAQ:CEVAGet Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $24.25 million for the quarter, compared to analysts’ expectations of $26.55 million. Ceva had a negative return on equity of 1.75% and a negative net margin of 6.11%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. As a group, equities research analysts predict that Ceva will post -0.12 earnings per share for the current fiscal year.

About Ceva

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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.

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Analyst Recommendations for Ceva (NASDAQ:CEVA)

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