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

Shares of Ceva, Inc. (NASDAQ:CEVA) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $42.80.

Several brokerages have recently weighed in on CEVA. Rosenblatt Securities lifted their price target on shares of Ceva from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Benchmark assumed coverage on Ceva in a research note on Wednesday, July 15th. They issued a “hold” rating for the company. JPMorgan Chase & Co. started coverage on Ceva in a report on Friday, May 8th. They issued a “neutral” rating and a $30.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research report on Monday, July 6th. Finally, Roth Capital reissued a “buy” rating and set a $40.00 price target on shares of Ceva in a report on Monday, May 11th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in Ceva by 3.1% during the second quarter. American Century Companies Inc. now owns 53,354 shares of the semiconductor company’s stock valued at $1,173,000 after purchasing an additional 1,619 shares in the last quarter. Norges Bank purchased a new stake in shares of Ceva in the second quarter worth $495,000. Invesco Ltd. increased its stake in shares of Ceva by 8.5% in the second quarter. Invesco Ltd. now owns 161,116 shares of the semiconductor company’s stock worth $3,541,000 after purchasing an additional 12,657 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Ceva by 243.9% in the second quarter. Qube Research & Technologies Ltd now owns 93,103 shares of the semiconductor company’s stock worth $2,046,000 after purchasing an additional 66,032 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Ceva by 835.6% during the 2nd quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock valued at $1,894,000 after purchasing an additional 76,942 shares during the period. 85.37% of the stock is currently owned by institutional investors.

Ceva Stock Down 6.2%

NASDAQ CEVA opened at $36.35 on Tuesday. The company has a 50-day moving average price of $43.08 and a 200-day moving average price of $29.99. Ceva has a 52 week low of $17.02 and a 52 week high of $51.60. The firm has a market capitalization of $1.01 billion, a P/E ratio of -80.78 and a beta of 1.96.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The company 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 firm posted $0.06 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate 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.