Ceva, Inc. (NASDAQ:CEVA) Receives $32.43 Average Price Target from Analysts

Ceva, Inc. (NASDAQ:CEVA) has received a consensus rating of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $39.4444.

Several research analysts have commented on the company. UBS Group lifted their price target on Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. assumed coverage on Ceva in a research report on Friday, May 8th. They issued a “neutral” rating and a $30.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Wednesday, April 8th. Rosenblatt Securities boosted their price objective on Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Roth Mkm restated a “buy” rating and set a $40.00 price objective on shares of Ceva in a research report on Monday.

Ceva Stock Up 2.9%

Shares of NASDAQ CEVA opened at $38.15 on Thursday. The business’s 50 day moving average is $23.14 and its two-hundred day moving average is $22.81. The company has a market cap of $1.06 billion, a P/E ratio of -84.78 and a beta of 1.94. Ceva has a 12 month low of $17.02 and a 12 month high of $39.94.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS. Sell-side analysts expect that Ceva will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Ceva

A number of institutional investors and hedge funds have recently modified their holdings of the company. Senvest Management LLC increased its position in shares of Ceva by 8.0% during the fourth quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company’s stock valued at $51,380,000 after purchasing an additional 177,765 shares during the period. Neuberger Berman Group LLC increased its position in shares of Ceva by 44.1% during the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock valued at $21,505,000 after purchasing an additional 305,540 shares during the period. AWM Investment Company Inc. increased its position in shares of Ceva by 24.1% during the fourth quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock valued at $17,814,000 after purchasing an additional 160,644 shares during the period. Handelsbanken Fonder AB increased its position in shares of Ceva by 92.6% during the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock valued at $14,730,000 after purchasing an additional 329,047 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of Ceva by 40.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock valued at $13,624,000 after purchasing an additional 179,098 shares during the period. 85.37% of the stock is currently owned by institutional investors.

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.