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

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $42.80.

Several research firms have weighed in on CEVA. TD Cowen boosted their target price on shares of Ceva from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Roth Capital reaffirmed a “buy” rating and issued a $40.00 price target on shares of Ceva in a report on Monday, May 11th. Stifel Nicolaus boosted their price objective on shares of Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a research note on Friday, May 8th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Oppenheimer raised their target price on shares of Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orser Capital Management LLC bought a new position in Ceva during the 2nd quarter worth $1,262,000. Bank of America Corp DE increased its holdings in shares of Ceva by 112.5% in the 1st quarter. Bank of America Corp DE now owns 80,996 shares of the semiconductor company’s stock worth $1,513,000 after acquiring an additional 42,878 shares during the period. Centaurus Financial Inc. lifted its position in Ceva by 3.0% in the 1st quarter. Centaurus Financial Inc. now owns 27,645 shares of the semiconductor company’s stock valued at $516,000 after purchasing an additional 800 shares during the last quarter. Quantinno Capital Management LP lifted its position in Ceva by 8.4% in the 1st quarter. Quantinno Capital Management LP now owns 19,032 shares of the semiconductor company’s stock valued at $356,000 after purchasing an additional 1,470 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Ceva by 3.9% during the 1st quarter. Rice Hall James & Associates LLC now owns 419,388 shares of the semiconductor company’s stock valued at $7,834,000 after purchasing an additional 15,632 shares during the period. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Stock Down 1.7%

Shares of Ceva stock opened at $37.33 on Tuesday. The business has a 50-day moving average price of $42.95 and a 200 day moving average price of $29.56. Ceva has a fifty-two week low of $17.02 and a fifty-two week high of $51.60. The firm has a market cap of $1.04 billion, a P/E ratio of -82.96 and a beta of 1.96.

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