Ceva (NASDAQ:CEVA) Research Coverage Started at TD Cowen

TD Cowen initiated coverage on shares of Ceva (NASDAQ:CEVA) in a report released on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $22.00 price objective on the semiconductor company’s stock.

Other analysts have also issued research reports about the company. UBS Group began coverage on Ceva in a report on Wednesday, February 25th. They issued a “buy” rating and a $27.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Ceva in a research report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Ceva in a research report on Thursday, March 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ceva currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.29.

Ceva Price Performance

Shares of NASDAQ:CEVA opened at $18.57 on Friday. The stock has a market cap of $515.32 million, a price-to-earnings ratio of -43.19 and a beta of 1.49. Ceva has a 12 month low of $17.85 and a 12 month high of $30.88. The stock’s 50 day moving average price is $21.14 and its 200 day moving average price is $23.26.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The firm 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 posted $0.11 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Ceva will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Ceva

A number of institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC lifted its stake in Ceva by 5.1% during the second 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 in the last quarter. Centaurus Financial Inc. increased its position in shares of Ceva by 2.6% in the third quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after acquiring an additional 550 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 632 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Ceva by 7.1% during the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 674 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ceva by 4.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,465 shares of the semiconductor company’s stock valued at $514,000 after acquiring an additional 775 shares during the period. Hedge funds and other 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.