Zacks Investment Research upgraded shares of CEVA (NASDAQ:CEVA) from a sell rating to a hold rating in a report released on Monday morning, Zacks.com reports.

According to Zacks, “CEVA is the leading licensor of signal processing IP for a smarter, connected world. They partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, industrial and IoT. Their ultra-low-power IPs for vision, audio, communications and connectivity include comprehensive DSP-based platforms for LTE/LTE-A/5G baseband processing in handsets, infrastructure and machine-to-machine devices, advanced imaging, computer vision and deep learning for any camera-enabled device, audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. “

Other equities analysts have also issued research reports about the company. Cowen reiterated a hold rating and issued a $353.00 price target on shares of Regeneron Pharmaceuticals in a research note on Tuesday, May 7th. Exane BNP Paribas lowered CEVA from an outperform rating to a neutral rating in a research note on Wednesday, April 17th. ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research note on Thursday, May 9th. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a research note on Wednesday, July 3rd. Finally, BNP Paribas reiterated a neutral rating on shares of CEVA in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $31.67.

Shares of CEVA opened at $24.95 on Monday. CEVA has a 52-week low of $20.40 and a 52-week high of $32.95. The firm has a fifty day simple moving average of $23.77. The company has a market cap of $541.00 million, a price-to-earnings ratio of 226.82 and a beta of 1.65.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). CEVA had a net margin of 0.59% and a return on equity of 0.88%. The business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $17.65 million. During the same quarter in the previous year, the business posted $0.04 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts expect that CEVA will post -0.11 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the stock. Comerica Bank grew its position in CEVA by 2.0% during the 1st quarter. Comerica Bank now owns 21,688 shares of the semiconductor company’s stock worth $618,000 after acquiring an additional 435 shares during the last quarter. Legal & General Group Plc grew its position in CEVA by 1.0% during the 4th quarter. Legal & General Group Plc now owns 47,242 shares of the semiconductor company’s stock worth $1,044,000 after acquiring an additional 466 shares during the last quarter. Texas Permanent School Fund grew its position in CEVA by 3.4% during the 4th quarter. Texas Permanent School Fund now owns 14,332 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 470 shares during the last quarter. Campbell Newman Asset Management Inc. grew its position in CEVA by 2.5% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 21,798 shares of the semiconductor company’s stock worth $588,000 after acquiring an additional 522 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in CEVA by 2.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 30,222 shares of the semiconductor company’s stock worth $617,000 after acquiring an additional 715 shares during the last quarter. Institutional investors and hedge funds own 85.12% of the company’s stock.

CEVA Company Profile

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.

Recommended Story: Commodities

Get a free copy of the Zacks research report on CEVA (CEVA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CEVA (NASDAQ:CEVA)

Receive News & Ratings for CEVA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEVA and related companies with MarketBeat.com's FREE daily email newsletter.