Ceva (NASDAQ:CEVA) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Ceva (NASDAQ:CEVA) in a report published on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $30.00 target price on the semiconductor company’s stock.

CEVA has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research note on Wednesday, April 8th. Oppenheimer reissued an “outperform” rating and issued a $30.00 target price (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. UBS Group raised their target price on shares of Ceva from $27.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen started coverage on shares of Ceva in a research note on Friday, March 20th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Ceva in a research note on Thursday, March 12th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.13.

Ceva Trading Up 9.6%

Shares of Ceva stock opened at $36.97 on Friday. The firm has a market capitalization of $1.03 billion, a PE ratio of -85.97 and a beta of 1.94. Ceva has a twelve month low of $17.02 and a twelve month high of $37.07. The firm’s 50-day moving average price is $21.87 and its 200 day moving average price is $22.53.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $31.29 million for the quarter, compared to analyst estimates of $31.03 million. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. Ceva’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.11 EPS. On average, sell-side analysts predict that Ceva will post -0.25 EPS for the current fiscal year.

Institutional Trading of Ceva

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in Ceva by 2,735.2% in the fourth 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 acquired a new position in Ceva in the fourth quarter valued at approximately $10,420,000. Penserra Capital Management LLC acquired a new position in Ceva in the third quarter valued at approximately $11,410,000. Handelsbanken Fonder AB lifted its holdings in Ceva by 1,287.5% in the third 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 lifted its holdings in Ceva by 44.1% in the fourth 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. Hedge funds and other institutional investors own 85.37% of the company’s stock.

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.