Ceva (NASDAQ:CEVA) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Ceva, Inc. (NASDAQ:CEVA)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $23.21 and traded as high as $28.47. Ceva shares last traded at $26.64, with a volume of 298,965 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Ceva in a research note on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ceva presently has an average rating of “Moderate Buy” and a consensus target price of $35.60.

Ceva Stock Performance

The stock’s 50 day moving average is $25.05 and its two-hundred day moving average is $23.21. The stock has a market capitalization of $636.16 million, a PE ratio of -63.43 and a beta of 1.29.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. The firm had revenue of $25.68 million for the quarter, compared to analyst estimates of $25.33 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. Equities research analysts expect that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceva

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Inspire Investing LLC purchased a new position in Ceva in the third quarter valued at about $459,000. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of Ceva by 9.4% in the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 132,447 shares of the semiconductor company’s stock valued at $3,497,000 after purchasing an additional 11,424 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Ceva by 9.9% in the 2nd quarter. Centaurus Financial Inc. now owns 21,355 shares of the semiconductor company’s stock valued at $469,000 after purchasing an additional 1,917 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Ceva by 835.6% during the 2nd quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock valued at $1,894,000 after acquiring an additional 76,942 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Ceva by 8.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 81,562 shares of the semiconductor company’s stock valued at $1,793,000 after acquiring an additional 6,630 shares in the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

Ceva Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.