Ceva, Inc. (NASDAQ:CEVA) Given Average Recommendation of “Moderate Buy” by Analysts

Ceva, Inc. (NASDAQ:CEVA) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $34.00.

A number of equities research analysts have recently issued reports on the company. Loop Capital assumed coverage on Ceva in a report on Monday, December 1st. They set a “buy” rating and a $28.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price target on shares of Ceva in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Tuesday, October 14th. Finally, Barclays increased their price objective on Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th.

Ceva Price Performance

Shares of CEVA opened at $21.52 on Friday. The company’s 50-day moving average is $23.14 and its 200-day moving average is $23.65. The firm has a market capitalization of $516.91 million, a PE ratio of -46.78 and a beta of 1.43. Ceva has a fifty-two week low of $18.23 and a fifty-two week high of $38.94.

Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, November 10th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $28.38 million during the quarter, compared to the consensus estimate of $28.04 million. Ceva had a negative net margin of 10.49% and a negative return on equity of 3.54%. Ceva’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. Analysts predict that Ceva will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Ceva

Several hedge funds and other institutional investors have recently bought and sold shares of CEVA. K2 Principal Fund L.P. acquired a new position in shares of Ceva during the 1st quarter worth approximately $485,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ceva in the first quarter valued at approximately $1,328,000. Voya Investment Management LLC boosted its stake in shares of Ceva by 52.2% in the first quarter. Voya Investment Management LLC now owns 59,712 shares of the semiconductor company’s stock valued at $1,529,000 after buying an additional 20,469 shares during the period. Silverberg Bernstein Capital Management LLC boosted its stake in shares of Ceva by 35.6% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 121,023 shares of the semiconductor company’s stock valued at $2,660,000 after buying an additional 31,769 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Ceva by 8.9% during the second quarter. State of Alaska Department of Revenue now owns 14,252 shares of the semiconductor company’s stock worth $313,000 after buying an additional 1,160 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

About Ceva

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.