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

Ceva, Inc. (NASDAQ:CEVA) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $39.4444.

A number of brokerages have weighed in on CEVA. Roth Mkm reaffirmed a “buy” rating and set a $40.00 target price on shares of Ceva in a research note on Monday, May 11th. Rosenblatt Securities raised their target price on shares of Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Stifel Nicolaus set a $42.00 target price on shares of Ceva in a research note on Tuesday, May 12th. Oppenheimer raised their target price on shares of Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. began coverage on shares of Ceva in a research note on Friday, May 8th. They set a “neutral” rating and a $30.00 target price for the company.

Ceva Price Performance

CEVA stock opened at $39.98 on Monday. Ceva has a 1 year low of $17.02 and a 1 year high of $42.67. The company has a market cap of $1.11 billion, a P/E ratio of -88.84 and a beta of 2.00. The firm has a 50-day moving average of $27.83 and a 200 day moving average of $23.80.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The company had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.12 million. During the same period in the prior year, the firm earned $0.06 earnings per share. Ceva’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Ceva will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ceva

Institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. increased its position in shares of Ceva by 77.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 632 shares in the last quarter. State of Wyoming bought a new stake in shares of Ceva during the third quarter valued at approximately $39,000. Tower Research Capital LLC TRC increased its position in shares of Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 2,208 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Ceva by 771.8% during the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after acquiring an additional 2,107 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ceva by 47.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 2,172 shares in the last quarter. 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.