Ceva, Inc. (NASDAQ:CEVA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Ceva, Inc. (NASDAQ:CEVA) have earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $30.2857.

CEVA has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Ceva in a report on Thursday, March 12th. UBS Group initiated coverage on Ceva in a report on Wednesday, February 25th. They issued a “buy” rating and a $27.00 target price for the company. Stifel Nicolaus assumed coverage on Ceva in a report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $30.00 price objective (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. Finally, TD Cowen assumed coverage on Ceva in a report on Friday, March 20th. They set a “buy” rating and a $22.00 price objective for the company.

Hedge Funds Weigh In On Ceva

Institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC bought a new position in Ceva during the third quarter valued at $11,410,000. Herald Investment Management Ltd grew its holdings in Ceva by 12.5% during the third quarter. Herald Investment Management Ltd now owns 450,000 shares of the semiconductor company’s stock valued at $11,884,000 after purchasing an additional 50,000 shares during the period. Handelsbanken Fonder AB grew its holdings in Ceva by 1,287.5% during the third quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock valued at $9,387,000 after purchasing an additional 329,802 shares during the period. AWM Investment Company Inc. grew its holdings in Ceva by 8.5% during the second quarter. AWM Investment Company Inc. now owns 667,162 shares of the semiconductor company’s stock valued at $14,664,000 after purchasing an additional 52,000 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in Ceva by 835.6% during the second quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock valued at $1,894,000 after purchasing an additional 76,942 shares during the period. 85.37% of the stock is owned by institutional investors.

Ceva Stock Up 0.9%

CEVA stock opened at $22.35 on Friday. The firm has a market cap of $620.21 million, a PE ratio of -51.98 and a beta of 1.53. The business has a 50 day moving average of $20.20 and a 200-day moving average of $22.63. Ceva has a 12-month low of $17.02 and a 12-month high of $30.88.

Ceva (NASDAQ:CEVA) last released its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $31.29 million during the quarter, compared to analyst estimates of $31.03 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.Ceva’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. On average, research analysts expect that Ceva will post -0.12 earnings per share for the current year.

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.