Ceva (NASDAQ:CEVA) Sees Large Volume Increase – Here’s What Happened

Ceva, Inc. (NASDAQ:CEVA) shares saw an uptick in trading volume on Thursday . 289,717 shares changed hands during trading, a decline of 27% from the previous session’s volume of 397,664 shares.The stock last traded at $28.6510 and had previously closed at $27.36.

Analyst Ratings Changes

Several research firms recently commented on CEVA. Oppenheimer reissued an “outperform” rating and set a $30.00 price target (down from $33.00) on shares of Ceva in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research note on Wednesday, April 8th. TD Cowen started coverage on shares of Ceva in a research report on Friday, March 20th. They set a “buy” rating and a $22.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Ceva in a research report on Thursday, March 12th. Finally, Stifel Nicolaus started coverage on shares of Ceva in a research report on Tuesday, February 10th. They set a “buy” rating and a $30.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.29.

Ceva Trading Up 7.2%

The company has a market capitalization of $817.16 million, a P/E ratio of -69.01 and a beta of 1.53. The business’s 50-day simple moving average is $20.77 and its 200 day simple moving average is $22.44.

Ceva (NASDAQ:CEVA) last released its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The business had revenue of $31.29 million for the quarter, compared to the consensus estimate of $31.03 million. During the same period in the previous year, the firm earned $0.11 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Ceva, Inc. will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceva

A number of large investors have recently made changes to their positions in the company. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Ceva by 0.3% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 140,617 shares of the semiconductor company’s stock valued at $2,627,000 after acquiring an additional 470 shares during the period. Centaurus Financial Inc. raised its holdings in shares of Ceva by 2.6% during the third quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock valued at $579,000 after acquiring an additional 550 shares during the period. Hantz Financial Services Inc. grew its position in Ceva by 77.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 632 shares in the last quarter. Sanctuary Advisors LLC grew its position in Ceva by 7.1% during the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 674 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Ceva by 4.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,465 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 775 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

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.