CEVA, Inc. (NASDAQ:CEVA) Receives $27.00 Average Price Target from Analysts

Shares of CEVA, Inc. (NASDAQ:CEVA) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $27.00.

CEVA has been the topic of a number of analyst reports. TD Cowen increased their price target on shares of CEVA from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Rosenblatt Securities reissued a “buy” rating and set a $28.00 price target on shares of CEVA in a research report on Tuesday, February 13th.

CEVA Stock Performance

CEVA stock opened at $22.71 on Friday. CEVA has a 1-year low of $16.38 and a 1-year high of $30.57. The business’s 50 day moving average is $22.07 and its 200-day moving average is $21.17. The firm has a market cap of $536.64 million, a P/E ratio of -44.53 and a beta of 1.14.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $24.16 million for the quarter, compared to the consensus estimate of $24.32 million. CEVA had a negative return on equity of 5.30% and a negative net margin of 11.52%. The firm’s quarterly revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 EPS. Sell-side analysts forecast that CEVA will post -0.35 EPS for the current year.

Insider Transactions at CEVA

In other news, Director Louis Silver sold 4,730 shares of CEVA stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $23.19, for a total value of $109,688.70. Following the sale, the director now directly owns 40,576 shares in the company, valued at $940,957.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by insiders.

Institutional Trading of CEVA

Hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its position in CEVA by 4.0% during the third quarter. Sei Investments Co. now owns 12,426 shares of the semiconductor company’s stock worth $241,000 after acquiring an additional 480 shares during the last quarter. UBS Group AG lifted its holdings in CEVA by 1.8% during the 3rd quarter. UBS Group AG now owns 27,968 shares of the semiconductor company’s stock worth $734,000 after purchasing an additional 489 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in CEVA by 2.2% during the 4th quarter. Cresset Asset Management LLC now owns 24,205 shares of the semiconductor company’s stock worth $550,000 after purchasing an additional 510 shares during the last quarter. Select Equity Group L.P. boosted its stake in CEVA by 6.7% in the 1st quarter. Select Equity Group L.P. now owns 8,604 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 540 shares during the period. Finally, Captrust Financial Advisors grew its holdings in CEVA by 36.5% in the 1st quarter. Captrust Financial Advisors now owns 2,129 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 569 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

About CEVA

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.