Ceva (NASDAQ:CEVA) Posts Earnings Results, Beats Expectations By $0.02 EPS

Ceva (NASDAQ:CEVA – Get Free Report) issued its earnings results on Monday. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02, Briefing.com reports. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share.

Ceva Price Performance

CEVA stock opened at $36.97 on Monday. The company’s 50-day simple moving average is $21.87 and its 200-day simple moving average is $22.53. Ceva has a 52-week low of $17.02 and a 52-week high of $37.07. The firm has a market cap of $1.03 billion, a P/E ratio of -85.97 and a beta of 1.94.

Get Ceva alerts:

Institutional Investors Weigh In On Ceva

Several institutional investors and hedge funds have recently added to or reduced their stakes in CEVA. Millennium Management LLC increased its stake in shares of Ceva by 2,735.2% during 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 in the last quarter. Defiance ETFs LLC purchased a new stake in Ceva during the 4th quarter worth approximately $10,420,000. Neuberger Berman Group LLC raised its holdings in shares of Ceva by 44.1% during the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock valued at $21,505,000 after acquiring an additional 305,540 shares during the last quarter. HRT Financial LP purchased a new position in shares of Ceva in the fourth quarter valued at approximately $5,182,000. Finally, Jane Street Group LLC boosted its stake in shares of Ceva by 1,798.3% in the fourth quarter. Jane Street Group LLC now owns 253,967 shares of the semiconductor company’s stock worth $5,465,000 after acquiring an additional 240,588 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CEVA shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Ceva in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. JPMorgan Chase & Co. began coverage on Ceva in a research note on Friday. They issued a “neutral” rating and a $30.00 target price on the stock. TD Cowen began coverage on Ceva in a report on Friday, March 20th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.13.

Get Our Latest Analysis on CEVA

Ceva Company Profile

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Ceva
• The Stars Are Aligning For Apple: Get Ready for $300
• 3 Small-Cap Stocks to Buy as the Russell 2000 Extends Its Rally
• Tapestry Stock Drops After Strong Quarter and Raised Outlook
• 3 Companies Quietly Essential to Data Center and AI Operations

Receive News & Ratings for Ceva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceva and related companies with MarketBeat.com's FREE daily email newsletter.