Brokerages Set Ceva, Inc. (NASDAQ:CEVA) Target Price at $40.60

Shares of Ceva, Inc. (NASDAQ:CEVA) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $40.60.

Several research analysts recently commented on the stock. Rosenblatt Securities lifted their target price on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Stifel Nicolaus upped their price objective on shares of Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 10th. TD Cowen reduced their price target on Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Benchmark reiterated a “hold” rating on shares of Ceva in a research report on Tuesday, August 11th. Finally, Needham & Company LLC reduced their target price on Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, August 10th.

Institutional Investors Weigh In On Ceva

A number of hedge funds and other institutional investors have recently bought and sold shares of CEVA. Hsbc Holdings PLC purchased a new stake in Ceva during the fourth quarter valued at approximately $777,000. Deutsche Bank AG purchased a new position in shares of Ceva during the 2nd quarter worth $33,941,000. BlackRock Inc. bought a new stake in shares of Ceva during the 2nd quarter valued at $113,995,000. Bank of America Corp DE grew its position in shares of Ceva by 112.5% during the 1st quarter. Bank of America Corp DE now owns 80,996 shares of the semiconductor company’s stock valued at $1,513,000 after acquiring an additional 42,878 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Ceva in the 2nd quarter worth $1,512,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Trading Up 3.8%

Ceva stock opened at $29.01 on Wednesday. Ceva has a 1-year low of $17.02 and a 1-year high of $51.60. The firm has a market capitalization of $816.75 million, a PE ratio of -72.53 and a beta of 1.97. The firm’s 50 day simple moving average is $33.56 and its 200 day simple moving average is $31.92.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $29.03 million for the quarter, compared to analysts’ expectations of $28.19 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. Research analysts forecast that Ceva will post -0.17 earnings per share for the current year.

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.