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

Ceva, Inc. (NASDAQ:CEVA) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $40.60.

A number of equities analysts have weighed in on CEVA shares. TD Cowen lowered their price target on Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Stifel Nicolaus raised their price objective on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research note on Monday, July 6th. Wall Street Zen raised Ceva from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Benchmark upgraded Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday.

Hedge Funds Weigh In On Ceva

Several institutional investors and hedge funds have recently modified their holdings of CEVA. Hantz Financial Services Inc. lifted its stake in shares of Ceva by 77.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after buying an additional 632 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Ceva in the 2nd quarter valued at about $49,000. Integrated Wealth Concepts LLC acquired a new position in Ceva in the 2nd quarter valued at about $52,000. Sanctuary Advisors LLC raised its holdings in Ceva by 7.6% in the 1st quarter. Sanctuary Advisors LLC now owns 11,003 shares of the semiconductor company’s stock valued at $206,000 after acquiring an additional 773 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Ceva during the second quarter worth approximately $343,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Trading Up 0.5%

NASDAQ CEVA opened at $27.91 on Wednesday. The firm has a market capitalization of $785.67 million, a P/E ratio of -69.77 and a beta of 1.97. The firm’s fifty day moving average price is $32.92 and its two-hundred day moving average price is $32.11. Ceva has a 1 year low of $17.02 and a 1 year high of $51.60.

Ceva (NASDAQ:CEVA) last announced 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. The company had revenue of $29.03 million during the quarter, compared to the consensus estimate of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. On average, research analysts anticipate that Ceva will post -0.17 EPS for the current fiscal year.

About Ceva

CEVA, Inc (NASDAQ: CEVA) is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and software for use in wireless communications, consumer electronics, automotive systems, industrial equipment and the Internet of Things. Rather than manufacturing chips, CEVA provides technology that semiconductor companies and original equipment manufacturers can incorporate into their own products.

The company’s portfolio includes digital signal processors, artificial intelligence and neural processing technologies, computer vision and sensor-fusion solutions, and platforms for wireless connectivity.