Cowen reaffirmed their outperform rating on shares of CEVA (NASDAQ:CEVA) in a report issued on Friday morning, Briefing.com Automated Import reports. They currently have a $35.00 price objective on the semiconductor company’s stock, up from their previous price objective of $29.00.

Several other equities analysts also recently commented on the stock. Exane BNP Paribas downgraded shares of CEVA from an outperform rating to a neutral rating in a research note on Wednesday, April 17th. Northland Securities restated a hold rating and issued a $28.00 price target on shares of CEVA in a research note on Thursday, August 8th. Zacks Investment Research upgraded shares of CEVA from a sell rating to a hold rating in a research note on Monday, July 8th. BNP Paribas restated a neutral rating on shares of CEVA in a research note on Wednesday, April 17th. Finally, ValuEngine upgraded shares of CEVA from a buy rating to a strong-buy rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $30.80.

NASDAQ:CEVA opened at $31.12 on Friday. The stock has a fifty day simple moving average of $26.24. The firm has a market capitalization of $668.24 million, a P/E ratio of 276.45 and a beta of 1.65. CEVA has a 52 week low of $20.40 and a 52 week high of $32.15.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.14. The business had revenue of $18.40 million during the quarter, compared to the consensus estimate of $17.41 million. CEVA had a net margin of 1.33% and a return on equity of 1.12%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, analysts forecast that CEVA will post -0.11 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in CEVA. Rice Hall James & Associates LLC lifted its position in shares of CEVA by 13.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 1,286,973 shares of the semiconductor company’s stock worth $34,697,000 after purchasing an additional 148,725 shares during the last quarter. Millennium Management LLC lifted its position in shares of CEVA by 1,606.6% during the 4th quarter. Millennium Management LLC now owns 119,152 shares of the semiconductor company’s stock worth $2,632,000 after purchasing an additional 112,170 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of CEVA by 78.4% during the 2nd quarter. Renaissance Technologies LLC now owns 247,600 shares of the semiconductor company’s stock worth $6,029,000 after purchasing an additional 108,800 shares during the last quarter. Tygh Capital Management Inc. purchased a new stake in shares of CEVA during the 1st quarter worth $1,627,000. Finally, Kennedy Capital Management Inc. lifted its position in shares of CEVA by 43.7% during the 1st quarter. Kennedy Capital Management Inc. now owns 143,673 shares of the semiconductor company’s stock worth $3,873,000 after purchasing an additional 43,673 shares during the last quarter. 84.37% of the stock is owned by institutional investors and hedge funds.

About CEVA

CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of-Things (IoT) markets worldwide. The company licenses a family of signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.

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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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