Ceva (NASDAQ:CEVA) Earns “Buy” Rating from Rosenblatt Securities

Ceva (NASDAQ:CEVA)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $40.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 103.36% from the company’s current price.

Several other equities research analysts have also issued reports on CEVA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Barclays lifted their target price on shares of 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 note on Monday, December 1st. They set a “buy” rating and a $28.00 price target on the stock. Finally, Stifel Nicolaus started coverage on shares of Ceva in a research note on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Ceva Stock Down 2.1%

Ceva stock opened at $19.67 on Wednesday. Ceva has a 12 month low of $18.23 and a 12 month high of $38.94. The stock has a market cap of $472.47 million, a P/E ratio of -45.74 and a beta of 1.50. The company’s fifty day simple moving average is $22.09 and its 200-day simple moving average is $23.67.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The business had revenue of $31.29 million during the quarter, compared to analyst estimates of $31.03 million. During the same period last year, the company earned $0.11 earnings per share. Ceva’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Ceva will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. lifted its position in Ceva by 4.2% during the 2nd quarter. D.A. Davidson & CO. now owns 66,101 shares of the semiconductor company’s stock worth $1,453,000 after acquiring an additional 2,664 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Ceva in the second quarter worth about $42,000. AlphaQuest LLC lifted its position in shares of Ceva by 123.6% during the 2nd 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 last quarter. Acadian Asset Management LLC boosted its stake in Ceva by 24.0% during the 2nd quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock valued at $14,346,000 after purchasing an additional 126,267 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Ceva by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 479 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

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.