Ceva (NASDAQ:CEVA) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Ceva (NASDAQ:CEVA) from a hold rating to a buy rating in a research report sent to investors on Saturday.

CEVA has been the subject of a number of other research reports. UBS Group upped their price objective on Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Oppenheimer dropped their target price on Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Rosenblatt Securities boosted their price target on Ceva from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. TD Cowen lowered their price objective on shares of Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Monday, July 6th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Ceva Trading Up 9.6%

Shares of CEVA opened at $33.28 on Friday. The firm has a market cap of $936.83 million, a PE ratio of -83.20 and a beta of 1.99. The firm has a fifty day simple moving average of $40.42 and a two-hundred day simple moving average of $31.05. Ceva has a 1-year low of $17.02 and a 1-year high of $51.60.

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 period in the prior year, the firm earned $0.07 EPS. As a group, research analysts forecast that Ceva will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CEVA. Silverberg Bernstein Capital Management LLC grew its holdings in Ceva by 0.3% during 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. lifted its holdings in shares of Ceva by 2.6% in the third quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after buying an additional 550 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after buying an additional 632 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Ceva by 7.1% during the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock worth $220,000 after acquiring an additional 674 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Ceva during the second quarter worth $49,000. 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.