Ceva, Inc. (NASDAQ:CEVA) Receives $40.60 Consensus PT from Analysts

Shares of Ceva, Inc. (NASDAQ:CEVA) have received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $40.60.

A number of equities analysts have commented on CEVA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Monday, July 6th. Oppenheimer cut their target price on Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. started coverage on Ceva in a report on Friday, May 8th. They set a “neutral” rating and a $30.00 target price on the stock. Roth Capital restated a “buy” rating and issued a $40.00 price target on shares of Ceva in a research report on Monday, May 11th. Finally, Stifel Nicolaus boosted their price target on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 10th.

Hedge Funds Weigh In On Ceva

Hedge funds have recently bought and sold shares of the company. Silverberg Bernstein Capital Management LLC raised its position in shares of Ceva by 0.3% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 140,617 shares of the semiconductor company’s stock valued at $2,627,000 after buying an additional 470 shares in the last quarter. Centaurus Financial Inc. boosted its position in shares of Ceva by 2.6% during the 3rd quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after acquiring an additional 550 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Ceva by 77.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 632 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Ceva by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 674 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Ceva in the second quarter valued at approximately $49,000. 85.37% of the stock is owned by institutional investors.

Ceva Trading Down 1.7%

Shares of CEVA opened at $32.71 on Friday. Ceva has a 12 month low of $17.02 and a 12 month high of $51.60. The firm’s 50 day moving average is $40.16 and its 200-day moving average is $31.18. The stock has a market capitalization of $920.79 million, a PE ratio of -81.77 and a beta of 1.99.

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 analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $29.03 million during the quarter, compared to the consensus estimate of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 earnings per share. Equities research analysts predict that Ceva will post -0.2 earnings per share for the current fiscal year.

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.