Ceva, Inc. (NASDAQ:CEVA) Receives $35.75 Consensus Target Price from Analysts

Shares of Ceva, Inc. (NASDAQ:CEVA) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $35.75.

A number of brokerages have issued reports on CEVA. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective on shares of Ceva in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Tuesday, October 14th. Finally, Barclays boosted their price target on shares of Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th.

Institutional Investors Weigh In On Ceva

Hedge funds and other institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC acquired a new stake in shares of Ceva in the third quarter valued at $11,410,000. Handelsbanken Fonder AB increased its position in Ceva by 1,287.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock valued at $9,387,000 after acquiring an additional 329,802 shares in the last quarter. Vanguard Group Inc. increased its position in Ceva by 13.0% in the 1st quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company’s stock valued at $62,657,000 after acquiring an additional 281,274 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in shares of Ceva in the second quarter worth about $4,833,000. Finally, Westerly Capital Management LLC acquired a new position in shares of Ceva during the second quarter worth approximately $3,956,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Trading Down 6.6%

NASDAQ CEVA opened at $18.83 on Thursday. Ceva has a 1-year low of $18.31 and a 1-year high of $38.94. The company has a market capitalization of $452.26 million, a price-to-earnings ratio of -44.83 and a beta of 1.32. The stock’s 50 day moving average is $26.58 and its two-hundred day moving average is $23.53.

Ceva (NASDAQ:CEVA) last issued its earnings results on Monday, November 10th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $28.38 million during the quarter, compared to analysts’ expectations of $28.04 million. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.Ceva’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. On average, analysts predict that Ceva will post -0.12 earnings per share for the current year.

Ceva Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.