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 analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $40.60.

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus increased their price target on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Wall Street Zen raised shares of Ceva from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. TD Cowen decreased their price objective on shares of Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Benchmark reissued a “hold” rating on shares of Ceva in a research report on Tuesday, August 11th. Finally, Rosenblatt Securities lifted their target price on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th.

Ceva Stock Performance

Ceva stock opened at $29.01 on Wednesday. The stock has a 50-day simple moving average of $33.56 and a 200 day simple moving average of $32.01. The stock has a market capitalization of $816.63 million, a P/E ratio of -72.53 and a beta of 1.97. 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, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.The firm had revenue of $29.03 million for the quarter, compared to analyst estimates of $28.19 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Research analysts forecast that Ceva will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Ceva

A number of large investors have recently made changes to their positions in CEVA. Tidal Investments LLC boosted its stake in Ceva by 202.0% in the 2nd quarter. Tidal Investments LLC now owns 58,121 shares of the semiconductor company’s stock valued at $2,741,000 after purchasing an additional 38,876 shares during the period. WINTON GROUP Ltd bought a new position in Ceva during the 2nd quarter worth $564,000. Integrated Wealth Concepts LLC bought a new position in Ceva during the 2nd quarter worth $52,000. Arizona State Retirement System acquired a new stake in shares of Ceva during the second quarter worth $352,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Ceva by 5,814.2% during the second quarter. California State Teachers Retirement System now owns 1,469,317 shares of the semiconductor company’s stock worth $69,293,000 after buying an additional 1,444,473 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.

Ceva Company Profile

CEVA, Inc (NASDAQ: CEVA) is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and software for use in wireless communications, consumer electronics, automotive systems, industrial equipment and the Internet of Things. Rather than manufacturing chips, CEVA provides technology that semiconductor companies and original equipment manufacturers can incorporate into their own products.

The company’s portfolio includes digital signal processors, artificial intelligence and neural processing technologies, computer vision and sensor-fusion solutions, and platforms for wireless connectivity.