Ceva, Inc. (NASDAQ:CEVA) Receives $41.00 Consensus Target Price from Brokerages

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $41.00.

Several equities research analysts recently weighed in on CEVA shares. JPMorgan Chase & Co. assumed coverage on Ceva in a report on Friday, May 8th. They issued a “neutral” rating and a $30.00 price objective for the company. Roth Mkm reiterated a “buy” rating and set a $40.00 price objective on shares of Ceva in a research report on Monday, May 11th. UBS Group boosted their price objective on shares of Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research note on Wednesday, April 8th. Finally, TD Cowen lifted their target price on shares of Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, May 12th.

Ceva Stock Down 11.2%

Shares of Ceva stock opened at $40.42 on Friday. The company has a market cap of $1.13 billion, a PE ratio of -89.82 and a beta of 1.96. Ceva has a 52 week low of $17.02 and a 52 week high of $51.60. The business has a 50 day moving average price of $40.09 and a 200-day moving average price of $27.81.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The firm had revenue of $27.02 million during the quarter, compared to analyst estimates of $26.12 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Ceva will post -0.21 EPS for the current year.

Hedge Funds Weigh In On Ceva

Several hedge funds and other institutional investors have recently bought and sold shares of CEVA. Millennium Management LLC boosted its holdings in Ceva by 2,735.2% in the fourth quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after purchasing an additional 574,592 shares during the last quarter. Defiance ETFs LLC bought a new stake in Ceva during the fourth quarter valued at about $10,420,000. Handelsbanken Fonder AB increased its holdings in Ceva by 1,287.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock worth $9,387,000 after acquiring an additional 329,802 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Ceva by 44.1% in the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after purchasing an additional 305,540 shares in the last quarter. Finally, HRT Financial LP purchased a new stake in Ceva in the 4th quarter worth $5,182,000. Institutional investors own 85.37% of the company’s stock.

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.