CEVA (NASDAQ:CEVA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $32.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.84% from the stock’s current price.

According to Zacks, “CEVA is the leading licensor of signal processing IP for a smarter, connected world. They partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, industrial and IoT. Their ultra-low-power IPs for vision, audio, communications and connectivity include comprehensive DSP-based platforms for LTE/LTE-A/5G baseband processing in handsets, infrastructure and machine-to-machine devices, advanced imaging, computer vision and deep learning for any camera-enabled device, audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. “

Several other equities analysts have also issued reports on the company. BidaskClub lowered CEVA from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 7th. ValuEngine lowered CEVA from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.40.

Shares of CEVA stock traded up $0.72 during midday trading on Tuesday, reaching $28.87. The company had a trading volume of 109,748 shares, compared to its average volume of 92,771. The stock has a fifty day moving average price of $26.91 and a 200 day moving average price of $28.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.80 and a quick ratio of 6.80. The firm has a market cap of $603.49 million, a PE ratio of 262.45 and a beta of 1.46. CEVA has a fifty-two week low of $21.69 and a fifty-two week high of $33.16.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.19. CEVA had a positive return on equity of 0.94% and a negative net margin of 0.91%. The firm had revenue of $23.50 million for the quarter, compared to analyst estimates of $22.72 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that CEVA will post 0.02 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE increased its holdings in shares of CEVA by 976.6% during the second quarter. US Bancorp DE now owns 1,658 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 1,504 shares in the last quarter. Bank of Montreal Can grew its stake in CEVA by 324.6% in the 2nd quarter. Bank of Montreal Can now owns 2,412 shares of the semiconductor company’s stock valued at $58,000 after purchasing an additional 1,844 shares during the period. Meadow Creek Investment Management LLC grew its stake in CEVA by 10.4% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 6,216 shares of the semiconductor company’s stock valued at $151,000 after purchasing an additional 588 shares during the period. Glen Harbor Capital Management LLC grew its stake in CEVA by 10.4% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 7,548 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 714 shares during the period. Finally, Strs Ohio bought a new position in CEVA in the 3rd quarter valued at $185,000. 82.75% of the stock is currently owned by hedge funds and other institutional investors.

About CEVA

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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