Ceva (NASDAQ:CEVA) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Ceva, Inc. (NASDAQ:CEVA)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.66 and traded as high as $50.44. Ceva shares last traded at $48.45, with a volume of 957,157 shares.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CEVA shares. Oppenheimer lifted their price target on Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. UBS Group lifted their price target on Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Roth Mkm reiterated a “buy” rating and set a $40.00 price target on shares of Ceva in a research report on Monday, May 11th. Stifel Nicolaus set a $42.00 price target on Ceva in a research report on Tuesday, May 12th. Finally, Rosenblatt Securities lifted their price target on Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Ceva Price Performance

The stock has a 50 day moving average price of $33.84 and a 200-day moving average price of $25.66. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -107.67 and a beta of 2.00.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data 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 firm 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 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Ceva, Inc. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Ceva

Several institutional investors and hedge funds have recently modified their holdings of CEVA. Hantz Financial Services Inc. raised its holdings in shares of Ceva by 77.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 632 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Ceva by 422.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 2,208 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Ceva by 771.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after buying an additional 2,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ceva by 47.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 2,172 shares during the period. Finally, Intech Investment Management LLC raised its holdings in shares of Ceva by 15.4% in the 4th quarter. Intech Investment Management LLC now owns 9,415 shares of the semiconductor company’s stock valued at $203,000 after buying an additional 1,258 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.

About Ceva

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.