Analysts Set Ceva, Inc. (NASDAQ:CEVA) Price Target at $32.60

Ceva, Inc. (NASDAQ:CEVA) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $32.60.

CEVA has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Ceva in a report on Wednesday, February 18th. Barclays lifted their target price on Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Loop Capital assumed coverage on shares of Ceva in a research report on Monday, December 1st. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on shares of Ceva in a research note on Tuesday, February 10th. They issued a “buy” rating and a $30.00 target price on the stock.

Ceva Stock Performance

NASDAQ:CEVA opened at $18.76 on Friday. The firm has a market capitalization of $450.62 million, a PE ratio of -43.63 and a beta of 1.50. The stock’s fifty day moving average is $21.99 and its 200 day moving average is $23.66. Ceva has a fifty-two week low of $18.23 and a fifty-two week high of $38.94.

Ceva (NASDAQ:CEVA) last announced its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The business had revenue of $31.29 million for the quarter, compared to the consensus estimate of $31.03 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts forecast that Ceva will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Ceva

Hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its stake in shares of Ceva by 5.1% in the second quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock worth $217,000 after buying an additional 479 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Ceva by 2.6% during the third quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after buying an additional 550 shares in the last quarter. Hantz Financial Services Inc. grew its position in 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 buying an additional 632 shares during the period. Sanctuary Advisors LLC raised its position in shares of Ceva by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock worth $220,000 after acquiring an additional 674 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ceva by 4.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,465 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 775 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

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.