Ceva (NASDAQ:CEVA) Stock Price Up 9.5% – What’s Next?

Ceva, Inc. (NASDAQ:CEVA)’s share price shot up 9.5% during mid-day trading on Tuesday . The company traded as high as $46.89 and last traded at $47.1250. Approximately 232,870 shares were traded during trading, a decline of 61% from the average session volume of 602,794 shares. The stock had previously closed at $43.03.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a research report on Friday, May 8th. They issued a “neutral” rating and a $30.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Wednesday, April 8th. UBS Group increased their target price on shares of Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. TD Cowen boosted their price target on shares of Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Stifel Nicolaus set a $42.00 price objective on Ceva in a research report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Ceva Stock Performance

The company has a market cap of $1.13 billion, a P/E ratio of -90.06 and a beta of 1.96. The stock has a 50-day moving average of $39.78 and a two-hundred day moving average of $27.68.

Ceva (NASDAQ:CEVA) last released its earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The company had revenue of $27.02 million for the quarter, compared to analyst estimates of $26.12 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ceva, Inc. will post -0.21 EPS for the current fiscal year.

Institutional Trading of Ceva

A number of institutional investors have recently made changes to their positions in the stock. Silverberg Bernstein Capital Management LLC increased its stake in shares of Ceva by 0.3% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 140,617 shares of the semiconductor company’s stock worth $2,627,000 after buying an additional 470 shares during the period. Centaurus Financial Inc. boosted its position in Ceva by 2.6% during the 3rd quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock valued at $579,000 after buying an additional 550 shares during the period. Hantz Financial Services Inc. grew its holdings in Ceva by 77.6% in 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 during the last quarter. Sanctuary Advisors LLC grew its holdings in Ceva by 7.1% in the 4th 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, Rice Hall James & Associates LLC increased its position in shares of Ceva by 0.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 403,756 shares of the semiconductor company’s stock valued at $8,689,000 after acquiring an additional 1,234 shares during the period. Hedge funds and other institutional investors 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.