Rosenblatt Securities Boosts Ceva (NASDAQ:CEVA) Price Target to $45.00

Ceva (NASDAQ:CEVA) had its price target hoisted by Rosenblatt Securities from $40.00 to $45.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ target price points to a potential upside of 17.96% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $40.00 price target on shares of Ceva in a research report on Monday. JPMorgan Chase & Co. began coverage on shares of Ceva in a research report on Friday, May 8th. They set a “neutral” rating and a $30.00 price target on the stock. Oppenheimer lifted their price objective on shares of Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group lifted their price objective on shares of Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Wednesday, April 8th. Eight 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $39.44.

Ceva Price Performance

CEVA opened at $38.15 on Tuesday. The company’s 50-day moving average is $23.14 and its 200 day moving average is $22.81. Ceva has a fifty-two week low of $17.02 and a fifty-two week high of $39.94. The firm has a market capitalization of $1.06 billion, a P/E ratio of -84.78 and a beta of 1.94.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $27.02 million for the quarter, compared to analyst estimates of $26.12 million. During the same period last year, the firm earned $0.06 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Ceva will post -0.25 earnings per share for the current year.

Institutional Trading of Ceva

Several hedge funds have recently added to or reduced their stakes in CEVA. American Century Companies Inc. raised its position in Ceva by 3.1% in the second quarter. American Century Companies Inc. now owns 53,354 shares of the semiconductor company’s stock worth $1,173,000 after acquiring an additional 1,619 shares during the period. Norges Bank purchased a new position in shares of Ceva in the second quarter worth about $495,000. Invesco Ltd. increased its stake in shares of Ceva by 8.5% in the second quarter. Invesco Ltd. now owns 161,116 shares of the semiconductor company’s stock worth $3,541,000 after purchasing an additional 12,657 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Ceva by 243.9% in the second quarter. Qube Research & Technologies Ltd now owns 93,103 shares of the semiconductor company’s stock worth $2,046,000 after purchasing an additional 66,032 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of Ceva by 835.6% in the second quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock worth $1,894,000 after purchasing an additional 76,942 shares in the last quarter. Institutional investors 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.