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

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $41.00.

CEVA has been the subject of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $40.00 price target on shares of Ceva in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research report on Wednesday, April 8th. UBS Group raised their target price on Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Needham & Company LLC initiated coverage on Ceva in a research report on Monday, June 15th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, TD Cowen upped their price target on Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CEVA. Hantz Financial Services Inc. increased its holdings in 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 purchasing an additional 632 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Ceva by 771.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after acquiring an additional 2,107 shares during the period. Tower Research Capital LLC TRC grew its position in 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 acquiring an additional 2,208 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 acquiring an additional 2,172 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Ceva by 52.7% during the third quarter. BNP Paribas Financial Markets now owns 7,907 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 2,730 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Stock Up 9.6%

NASDAQ CEVA opened at $47.16 on Friday. The business’s fifty day simple moving average is $39.34 and its 200-day simple moving average is $27.52. The firm has a market cap of $1.31 billion, a PE ratio of -104.80 and a beta of 2.00. Ceva has a 52 week low of $17.02 and a 52 week high of $51.60.

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