Brokerages Set Ceva, Inc. (NASDAQ:CEVA) Target Price at $34.00

Ceva, Inc. (NASDAQ:CEVA) has received an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $34.00.

CEVA has been the topic of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Ceva in a report on Tuesday, November 11th. Loop Capital began coverage on Ceva in a research report on Monday, December 1st. They issued a “buy” rating and a $28.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. Finally, Barclays raised their price objective on shares of Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th.

Hedge Funds Weigh In On Ceva

Institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new position in Ceva in the third quarter valued at $39,000. FNY Investment Advisers LLC acquired a new stake in Ceva in the 2nd quarter valued at about $42,000. Russell Investments Group Ltd. raised its position in 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 purchasing an additional 2,107 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Ceva by 123.6% in the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 1,355 shares during the period. Finally, Tower Research Capital LLC TRC grew 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 worth $60,000 after buying an additional 2,208 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Stock Performance

Shares of CEVA stock opened at $22.17 on Tuesday. The firm has a market cap of $532.52 million, a P/E ratio of -48.20 and a beta of 1.43. The firm’s 50 day moving average price is $22.07 and its 200-day moving average price is $23.78. Ceva has a one year low of $18.23 and a one year high of $38.94.

Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, November 10th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Ceva had a negative return on equity of 3.54% and a negative net margin of 10.49%.The company had revenue of $28.38 million for the quarter, compared to analyst estimates of $28.04 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that Ceva will post -0.12 EPS for the current fiscal year.

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.