Brokerages Set Ceva, Inc. (NASDAQ:CEVA) PT at $40.60

Ceva, Inc. (NASDAQ:CEVA) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $40.60.

CEVA has been the topic of several recent analyst reports. Benchmark reiterated a “hold” rating on shares of Ceva in a research note on Tuesday, August 11th. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a research report on Friday, May 8th. They issued a “neutral” rating and a $30.00 target price on the stock. Roth Capital reiterated a “buy” rating and set a $40.00 price target on shares of Ceva in a research note on Monday, May 11th. Wall Street Zen raised shares of Ceva from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, UBS Group upped their price objective on shares of Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th.

Ceva Price Performance

Shares of NASDAQ CEVA opened at $27.99 on Friday. The business has a 50-day moving average of $38.96 and a two-hundred day moving average of $31.31. The company has a market capitalization of $787.92 million, a price-to-earnings ratio of -69.97 and a beta of 1.99. Ceva has a 1 year low of $17.02 and a 1 year high of $51.60.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.The business had revenue of $29.03 million for the quarter, compared to the consensus estimate of $28.19 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts expect that Ceva will post -0.17 earnings per share for the current year.

Institutional Trading of Ceva

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Ceva during the 2nd quarter worth approximately $113,995,000. AWM Investment Company Inc. acquired a new position in Ceva during the second quarter worth approximately $37,719,000. Deutsche Bank AG purchased a new stake in Ceva in the second quarter valued at approximately $33,941,000. Millennium Management LLC boosted its holdings in shares of Ceva by 2,735.2% in the fourth quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock valued at $12,817,000 after acquiring an additional 574,592 shares during the period. Finally, Defiance ETFs LLC acquired a new stake in shares of Ceva in the fourth quarter valued at approximately $10,420,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

Ceva Company Profile

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.