Ceva (NASDAQ:CEVA) Sets New 12-Month High – Here’s What Happened

Ceva, Inc. (NASDAQ:CEVA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $40.19 and last traded at $39.7750, with a volume of 169389 shares traded. The stock had previously closed at $38.44.

Analysts Set New Price Targets

Several brokerages recently weighed in on CEVA. Rosenblatt Securities raised their price objective on shares of Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. UBS Group raised their price objective on shares of Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Stifel Nicolaus set a $42.00 price objective on shares of Ceva in a research report on Tuesday, May 12th. TD Cowen raised their price objective on shares of Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ceva in a research report on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.44.

Ceva Price Performance

The firm’s 50 day moving average price is $25.22 and its 200-day moving average price is $23.22. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -88.76 and a beta of 1.94.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The business had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. During the same quarter last year, the company posted $0.06 earnings per share. Ceva’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Ceva, Inc. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On Ceva

A number of institutional investors have recently bought and sold shares of the business. Senvest Management LLC boosted its stake in Ceva by 8.0% during the fourth quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company’s stock worth $51,380,000 after buying an additional 177,765 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Ceva by 44.1% during the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after buying an additional 305,540 shares in the last quarter. AWM Investment Company Inc. boosted its stake in Ceva by 24.1% during the fourth quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock worth $17,814,000 after buying an additional 160,644 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Ceva by 92.6% during the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock worth $14,730,000 after buying an additional 329,047 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Ceva by 40.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after buying an additional 179,098 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

About Ceva

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.