Ceva, Inc. (NASDAQ:CEVA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Ceva, Inc. (NASDAQ:CEVA) have received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $32.4286.

CEVA has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Ceva in a research report on Thursday, March 12th. UBS Group lifted their price objective on shares of Ceva from $27.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus initiated coverage on shares of Ceva in a research report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, TD Cowen initiated coverage on shares of Ceva in a research report on Friday, March 20th. They issued a “buy” rating and a $22.00 price objective on the stock.

Institutional Trading of Ceva

Several hedge funds have recently added to or reduced their stakes in CEVA. Hantz Financial Services Inc. raised its position in Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 632 shares during the period. State of Wyoming bought a new stake in shares of Ceva in the third quarter valued at approximately $39,000. Tower Research Capital LLC TRC raised its position in shares of Ceva by 422.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,208 shares during the period. Russell Investments Group Ltd. raised its position in shares of Ceva by 771.8% in the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 2,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ceva by 47.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 2,172 shares during the period. Institutional investors own 85.37% of the company’s stock.

Ceva Stock Performance

Ceva stock opened at $34.66 on Thursday. Ceva has a fifty-two week low of $17.02 and a fifty-two week high of $34.87. The stock has a market cap of $965.63 million, a PE ratio of -80.60 and a beta of 1.94. The firm’s 50-day simple moving average is $21.59 and its 200 day simple moving average is $22.48.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The business had revenue of $31.29 million for the quarter, compared to analysts’ expectations of $31.03 million. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts predict that Ceva will post -0.25 EPS for the current fiscal year.

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.