CEVA, Inc. (NASDAQ:CEVA) Receives Average Recommendation of “Hold” from Brokerages
CEVA, Inc. (NASDAQ:CEVA) has been given an average rating of “Hold” by the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.25.
Several research firms have weighed in on CEVA. Cowen reiterated an “outperform” rating and set a $35.00 price objective (up previously from $29.00) on shares of CEVA in a research report on Friday, August 9th. Canaccord Genuity increased their price objective on CEVA from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. BidaskClub lowered CEVA from a “sell” rating to a “strong sell” rating in a report on Thursday, November 7th. Northland Securities reissued a “hold” rating and set a $28.00 target price on shares of CEVA in a report on Thursday, August 8th. Finally, ValuEngine lowered CEVA from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd.
CEVA stock traded down $0.29 during trading hours on Wednesday, hitting $25.63. 124,050 shares of the stock were exchanged, compared to its average volume of 123,472. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $570.06 million, a P/E ratio of 233.00, a P/E/G ratio of 129.60 and a beta of 1.45. The company has a 50-day simple moving average of $27.47 and a two-hundred day simple moving average of $27.25. CEVA has a 12 month low of $20.40 and a 12 month high of $33.16.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CEVA. Millennium Management LLC grew its holdings in shares of CEVA by 741.8% during the 3rd quarter. Millennium Management LLC now owns 136,460 shares of the semiconductor company’s stock worth $4,074,000 after purchasing an additional 120,250 shares in the last quarter. Renaissance Technologies LLC boosted its stake in CEVA by 78.4% in the second quarter. Renaissance Technologies LLC now owns 247,600 shares of the semiconductor company’s stock valued at $6,029,000 after buying an additional 108,800 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in CEVA in the second quarter valued at about $2,157,000. D. E. Shaw & Co. Inc. boosted its stake in CEVA by 67.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 217,036 shares of the semiconductor company’s stock valued at $5,285,000 after buying an additional 87,177 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in CEVA by 259.0% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 97,796 shares of the semiconductor company’s stock valued at $9,897,000 after buying an additional 70,556 shares in the last quarter. 82.90% of the stock is currently owned by institutional investors.
CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of-Things (IoT) markets worldwide. The company licenses a family of signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.
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