Ceva (NASDAQ:CEVA) Shares Cross Above 200-Day Moving Average – What’s Next?

Ceva, Inc. (NASDAQ:CEVA) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $30.36 and traded as high as $31.43. Ceva shares last traded at $31.37, with a volume of 417,885 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CEVA. Rosenblatt Securities raised their price objective on Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Stifel Nicolaus increased their target price on shares of Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research note on Friday, October 2nd. Benchmark upgraded shares of Ceva from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Finally, Wall Street Zen cut shares of Ceva from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ceva currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.60.

Ceva Stock Performance

The firm has a 50-day moving average price of $30.47 and a two-hundred day moving average price of $30.45. The firm has a market cap of $905.02 million, a price-to-earnings ratio of -80.37 and a beta of 1.93.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $28.19 million. During the same quarter last year, the business posted $0.07 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Research analysts anticipate that Ceva, Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Tidal Investments LLC raised its stake in Ceva by 202.0% during the second quarter. Tidal Investments LLC now owns 58,121 shares of the semiconductor company’s stock worth $2,741,000 after purchasing an additional 38,876 shares during the period. Bank of America Corp DE purchased a new stake in shares of Ceva during the 2nd quarter valued at $4,482,000. Hsbc Holdings PLC purchased a new stake in shares of Ceva during the 4th quarter valued at $777,000. BlackRock Inc. purchased a new stake in shares of Ceva during the 2nd quarter valued at $113,995,000. Finally, Deutsche Bank AG acquired a new stake in shares of Ceva during the 2nd quarter worth $33,941,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Company Profile

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.