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

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $32.60.

CEVA has been the topic of a number of analyst reports. Stifel Nicolaus assumed coverage on Ceva in a research report on Tuesday, February 10th. They set a “buy” rating and a $30.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and set a $30.00 target price (down from $33.00) on shares of Ceva in a research report on Wednesday. Loop Capital started coverage on Ceva in a report on Monday, December 1st. They set a “buy” rating and a $28.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Ceva in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th.

Hedge Funds Weigh In On Ceva

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its holdings in shares of Ceva by 2,735.2% during the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock valued at $12,817,000 after purchasing an additional 574,592 shares during the last quarter. Defiance ETFs LLC acquired a new stake in Ceva in the fourth quarter valued at approximately $10,420,000. Penserra Capital Management LLC bought a new stake in shares of Ceva during the third quarter worth $11,410,000. Handelsbanken Fonder AB increased its holdings in shares of Ceva by 1,287.5% during the third quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock worth $9,387,000 after buying an additional 329,802 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Ceva by 44.1% during the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after buying an additional 305,540 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.

Ceva Stock Down 1.1%

Shares of Ceva stock opened at $19.46 on Friday. The stock has a market capitalization of $467.43 million, a price-to-earnings ratio of -45.25 and a beta of 1.50. Ceva has a twelve month low of $18.23 and a twelve month high of $38.94. The company has a 50-day simple moving average of $22.04 and a two-hundred day simple moving average of $23.65.

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

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.