Ceva, Inc. (NASDAQ:CEVA) Receives $39.44 Consensus Price Target from Analysts

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $39.4444.

CEVA has been the subject of a number of analyst reports. Oppenheimer increased their price target on Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research note on Wednesday, April 8th. Stifel Nicolaus set a $42.00 price target on Ceva in a research note on Tuesday, May 12th. TD Cowen lifted their price target on shares of Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Roth Mkm reiterated a “buy” rating and issued a $40.00 price target on shares of Ceva in a report on Monday, May 11th.

Ceva Stock Performance

Shares of CEVA stock opened at $50.06 on Monday. Ceva has a 52-week low of $17.02 and a 52-week high of $51.25. The firm has a market capitalization of $1.39 billion, a PE ratio of -111.24 and a beta of 2.00. The stock has a fifty day simple moving average of $29.59 and a two-hundred day simple moving average of $24.27.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings results 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 return on equity of 3.42% and a negative net margin of 10.47%.The business had revenue of $27.02 million during the quarter, compared to analyst estimates of $26.12 million. During the same quarter in the prior year, the business posted $0.06 EPS. Ceva’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, sell-side analysts forecast that Ceva will post -0.21 EPS for the current fiscal year.

Institutional Trading of Ceva

A number of institutional investors and hedge funds have recently bought and sold shares of CEVA. Millennium Management LLC increased its holdings in Ceva by 2,735.2% in the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock valued at $12,817,000 after acquiring an additional 574,592 shares during the last quarter. Defiance ETFs LLC bought a new stake in Ceva in the 4th quarter valued at $10,420,000. Penserra Capital Management LLC bought a new stake in Ceva in the 3rd quarter valued at $11,410,000. Handelsbanken Fonder AB increased its holdings in Ceva by 1,287.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock valued at $9,387,000 after acquiring an additional 329,802 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Ceva by 44.1% in the 4th quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock valued at $21,505,000 after acquiring an additional 305,540 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

Ceva Company Profile

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.