Ceva (NASDAQ:CEVA) Sets New 12-Month Low – Should You Sell?

Ceva, Inc. (NASDAQ:CEVA) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $17.85 and last traded at $18.2640, with a volume of 30947 shares. The stock had previously closed at $18.52.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CEVA. Stifel Nicolaus assumed coverage on shares of Ceva in a report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. Loop Capital began coverage on shares of Ceva in a research note on Monday, December 1st. They issued a “buy” rating and a $28.00 price objective for the company. Oppenheimer restated an “outperform” rating and set a $30.00 target price (down from $33.00) on shares of Ceva in a research report on Wednesday, February 18th. Finally, UBS Group started coverage on shares of Ceva in a report on Wednesday, February 25th. They issued a “buy” rating and a $27.00 price target for the company. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.67.

Ceva Stock Performance

The company has a market cap of $512.68 million, a PE ratio of -42.99 and a beta of 1.49. The company has a fifty day moving average of $21.30 and a two-hundred day moving average of $23.30.

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 company had revenue of $31.29 million during the quarter, compared to analyst estimates of $31.03 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Ceva’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Ceva, Inc. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Ceva

A number of large investors have recently made changes to their positions in CEVA. ProShare Advisors LLC boosted its position in Ceva by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 479 shares during the period. Centaurus Financial Inc. increased its position in shares of Ceva by 2.6% during the third quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after acquiring an additional 550 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Ceva by 77.6% during the fourth 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 in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Ceva by 7.1% during the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 674 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ceva by 4.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,465 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 775 shares during the period. 85.37% of the stock is owned by hedge funds and other 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.