Wall Street Zen upgraded shares of Ceva (NASDAQ:CEVA – Free Report) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.
Several other analysts also recently weighed in on the company. Benchmark raised Ceva from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Friday, October 2nd. Stifel Nicolaus raised their price target on Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. TD Cowen cut their price target on Ceva from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Finally, Oppenheimer reduced their price objective on Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.60.
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Ceva Price Performance
Shares of CEVA opened at $29.52 on Friday. Ceva has a 1-year low of $17.02 and a 1-year high of $51.60. The stock has a market cap of $830.99 million, a PE ratio of -73.80 and a beta of 1.93. The firm has a fifty day moving average price of $30.50 and a 200 day moving average price of $30.49.
Ceva (NASDAQ:CEVA – Get Free Report) last released its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $29.03 million during the quarter, compared to the consensus estimate of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. Ceva’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. As a group, equities analysts expect that Ceva will post -0.17 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Ceva during the 2nd quarter worth approximately $113,995,000. AWM Investment Company Inc. purchased a new position in shares of Ceva in the 2nd quarter valued at approximately $37,719,000. Deutsche Bank AG purchased a new position in shares of Ceva in the 2nd quarter valued at approximately $33,941,000. Oaktop Capital Management II L.P. acquired a new position in shares of Ceva in the second quarter valued at approximately $21,051,000. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Ceva by 3.9% in the first quarter. Rice Hall James & Associates LLC now owns 419,388 shares of the semiconductor company’s stock valued at $7,834,000 after purchasing an additional 15,632 shares during the period. 85.37% of the stock is currently owned by institutional investors and hedge funds.
Ceva Company Profile
Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.
Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.
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