Ceva (NASDAQ:CEVA) Reaches New 1-Year Low – Here’s What Happened

Ceva, Inc. (NASDAQ:CEVA)’s stock price reached a new 52-week low on Friday . The stock traded as low as $18.16 and last traded at $18.1850, with a volume of 88197 shares changing hands. The stock had previously closed at $18.40.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. 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. UBS Group assumed coverage on shares of Ceva in a research note on Wednesday, February 25th. They issued a “buy” rating and a $27.00 price target for the company. Loop Capital started coverage on Ceva in a research report on Monday, December 1st. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $40.00 target price on shares of Ceva in a report on Thursday. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.67.

Ceva Trading Down 2.5%

The company has a market capitalization of $497.84 million, a P/E ratio of -42.09 and a beta of 1.49. The company’s 50 day moving average is $21.68 and its 200-day moving average is $23.41.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, hitting the consensus estimate 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 analyst estimates of $31.03 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Ceva’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts predict that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceva

Several hedge funds have recently added to or reduced their stakes in CEVA. Hantz Financial Services Inc. lifted its stake in Ceva by 77.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 632 shares during the period. State of Wyoming bought a new stake in shares of Ceva in the third quarter worth approximately $39,000. Russell Investments Group Ltd. raised its holdings in shares of Ceva by 771.8% during the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 2,107 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,208 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ceva by 47.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 2,172 shares during the period. 85.37% of the stock is owned by institutional investors.

About Ceva

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.