Ceva, Inc. (NASDAQ:CEVA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ceva, Inc. (NASDAQ:CEVA) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $34.00.

A number of equities research analysts have issued reports on CEVA shares. Barclays boosted their price target on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Loop Capital began coverage on shares of Ceva in a research report on Monday, December 1st. They set a “buy” rating and a $28.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price target on shares of Ceva in a research note on Tuesday, November 11th.

Ceva Trading Down 5.1%

Shares of CEVA opened at $22.05 on Tuesday. The firm has a fifty day simple moving average of $21.88 and a two-hundred day simple moving average of $23.80. The firm has a market cap of $529.64 million, a PE ratio of -47.93 and a beta of 1.43. Ceva has a 1-year low of $18.23 and a 1-year high of $38.94.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings data 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 company had revenue of $28.38 million during the quarter, compared to analyst estimates of $28.04 million. Ceva had a negative return on equity of 3.54% and a negative net margin of 10.49%.Ceva’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, research analysts forecast that Ceva will post -0.12 EPS for the current fiscal year.

Institutional Trading of Ceva

Several hedge funds have recently bought and sold shares of CEVA. State of Wyoming bought a new position in shares of Ceva in the third quarter worth about $39,000. FNY Investment Advisers LLC bought a new stake in Ceva during the 2nd quarter worth approximately $42,000. AlphaQuest LLC boosted its position in shares of Ceva by 123.6% in the second quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 1,355 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Ceva by 422.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 2,208 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Ceva by 771.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 2,107 shares during the period. Institutional investors own 85.37% of the company’s stock.

Ceva Company Profile

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.