Barclays Forecasts Strong Price Appreciation for Ceva (NASDAQ:CEVA) Stock

Ceva (NASDAQ:CEVA) had its price target lifted by stock analysts at Barclays from $30.00 to $35.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s target price suggests a potential upside of 28.32% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Rosenblatt Securities restated a “buy” rating and set a $40.00 target price on shares of Ceva in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research report on Tuesday, October 14th. Four 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Ceva Stock Up 4.6%

Shares of NASDAQ:CEVA traded up $1.20 on Wednesday, reaching $27.28. The company had a trading volume of 70,983 shares, compared to its average volume of 284,693. The stock has a 50-day moving average price of $26.51 and a 200 day moving average price of $23.65. Ceva has a twelve month low of $18.31 and a twelve month high of $38.94. The stock has a market capitalization of $651.38 million, a P/E ratio of -64.87 and a beta of 1.32.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data on Monday, November 10th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. The company had revenue of $28.38 million during the quarter, compared to analysts’ expectations of $28.04 million. During the same quarter in the prior year, the company posted $0.14 EPS. The business’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts predict that Ceva will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceva

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Ceva by 13.0% during the first quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company’s stock valued at $62,657,000 after buying an additional 281,274 shares during the period. Senvest Management LLC raised its position in shares of Ceva by 8.4% in the 2nd quarter. Senvest Management LLC now owns 2,151,632 shares of the semiconductor company’s stock worth $47,293,000 after acquiring an additional 166,425 shares in the last quarter. AWM Investment Company Inc. increased its stake in shares of Ceva by 8.5% in the 2nd quarter. AWM Investment Company Inc. now owns 667,162 shares of the semiconductor company’s stock worth $14,664,000 after acquiring an additional 52,000 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Ceva by 24.0% during the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock valued at $14,346,000 after purchasing an additional 126,267 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Ceva by 40.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after acquiring an additional 179,098 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

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.