Ceva (NASDAQ:CEVA) Shares Gap Up – Time to Buy?

Shares of Ceva, Inc. (NASDAQ:CEVA) gapped up before the market opened on Tuesday . The stock had previously closed at $32.53, but opened at $34.69. Ceva shares last traded at $33.3450, with a volume of 197,696 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CEVA. Stifel Nicolaus began coverage on shares of Ceva in a report on Tuesday, February 10th. They set a “buy” rating and a $30.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $30.00 price target (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Ceva in a report on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. Finally, UBS Group boosted their price target on shares of Ceva from $27.00 to $42.00 and gave the company a “buy” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.43.

Ceva Stock Performance

The stock has a market cap of $956.99 million, a price-to-earnings ratio of -79.88 and a beta of 1.94. The company’s 50 day simple moving average is $20.99 and its two-hundred day simple moving average is $22.41.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, meeting the consensus estimate 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%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. On average, equities research analysts predict that Ceva, Inc. will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC grew its position in Ceva by 7.6% in the first quarter. Sanctuary Advisors LLC now owns 11,003 shares of the semiconductor company’s stock worth $206,000 after acquiring an additional 773 shares in the last quarter. Hsbc Holdings PLC grew its position in Ceva by 48.3% in the first quarter. Hsbc Holdings PLC now owns 53,492 shares of the semiconductor company’s stock worth $972,000 after acquiring an additional 17,424 shares in the last quarter. Inspire Investing LLC grew its position in Ceva by 30.3% in the first quarter. Inspire Investing LLC now owns 28,300 shares of the semiconductor company’s stock worth $529,000 after acquiring an additional 6,589 shares in the last quarter. Silverberg Bernstein Capital Management LLC grew its position in Ceva by 0.3% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 140,617 shares of the semiconductor company’s stock worth $2,627,000 after acquiring an additional 470 shares in the last quarter. Finally, VARCOV Co. bought a new stake in Ceva in the fourth quarter worth approximately $498,000. Institutional investors and hedge funds 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.