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

Shares of Ceva, Inc. (NASDAQ:CEVA) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $41.00.

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Ceva in a report on Friday, May 8th. They issued a “neutral” rating and a $30.00 price objective for the company. Oppenheimer upped their price objective on Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Roth Mkm reiterated a “buy” rating and issued a $40.00 price objective on shares of Ceva in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. Finally, TD Cowen upped their price objective on Ceva from $24.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th.

Ceva Stock Down 2.5%

Ceva stock opened at $43.90 on Friday. Ceva has a 52 week low of $17.02 and a 52 week high of $51.60. The business has a 50-day simple moving average of $38.05 and a 200 day simple moving average of $27.07. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -97.56 and a beta of 2.00.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, topping the consensus estimate 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 business had revenue of $27.02 million during the quarter, compared to analysts’ expectations of $26.12 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Ceva will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Ceva

Hedge funds and other institutional investors have recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in shares of Ceva by 1,287.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock worth $9,387,000 after purchasing an additional 329,802 shares in the last quarter. Intrinsic Edge Capital Management LLC boosted its holdings in Ceva by 50.0% during the 3rd quarter. Intrinsic Edge Capital Management LLC now owns 329,896 shares of the semiconductor company’s stock valued at $8,713,000 after acquiring an additional 110,000 shares during the period. DNB Asset Management AS boosted its holdings in Ceva by 71.5% during the 3rd quarter. DNB Asset Management AS now owns 59,447 shares of the semiconductor company’s stock valued at $1,570,000 after acquiring an additional 24,778 shares during the period. Capitolis Liquid Global Markets LLC boosted its holdings in Ceva by 38.8% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 492,725 shares of the semiconductor company’s stock valued at $13,013,000 after acquiring an additional 137,800 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in Ceva during the 4th quarter valued at about $603,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

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.