Ceva’s (CEVA) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Ceva (NASDAQ:CEVA) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $40.00 price objective on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on CEVA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Loop Capital initiated coverage on Ceva in a research note on Monday, December 1st. They set a “buy” rating and a $28.00 price target for the company. Stifel Nicolaus initiated coverage on Ceva in a report on Tuesday, February 10th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Barclays raised their target price on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Ceva Stock Performance

Shares of Ceva stock opened at $19.46 on Wednesday. The stock has a market capitalization of $467.43 million, a PE ratio of -45.25 and a beta of 1.50. Ceva has a 52 week low of $18.23 and a 52 week high of $38.94. The stock has a 50 day moving average price of $22.04 and a two-hundred day moving average price of $23.65.

Ceva (NASDAQ:CEVA) last issued its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The company had revenue of $31.29 million for the quarter, compared to analysts’ expectations of $31.03 million. During the same period last year, the business earned $0.11 EPS. Ceva’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts forecast that Ceva will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Ceva

Hedge funds and other institutional investors have recently modified their holdings of the business. VARCOV Co. purchased a new stake in shares of Ceva during the fourth quarter valued at approximately $498,000. Tudor Investment Corp ET AL bought a new position in Ceva in the 4th quarter valued at $305,000. Quadrature Capital Ltd purchased a new stake in shares of Ceva during the 4th quarter valued at $383,000. Numerai GP LLC bought a new stake in shares of Ceva during the 4th quarter worth $1,042,000. Finally, Millennium Management LLC boosted its holdings in shares of Ceva by 2,735.2% in the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after buying an additional 574,592 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

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.