Ceva (NASDAQ:CEVA – Free Report) had its price objective lowered by UBS Group from $48.00 to $40.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.
A number of other brokerages have also recently issued reports on CEVA. Wall Street Zen upgraded Ceva from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Oppenheimer cut their target price on Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Friday, October 2nd. TD Cowen decreased their price target on Ceva from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Finally, Benchmark raised Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.
View Our Latest Stock Analysis on CEVA
Ceva Stock Performance
Shares of NASDAQ:CEVA opened at $28.02 on Monday. Ceva has a 1-year low of $17.02 and a 1-year high of $51.60. The company has a 50 day moving average price of $30.57 and a 200 day moving average price of $30.57.
Ceva (NASDAQ:CEVA – Get Free Report) last posted its quarterly earnings results 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. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The company had revenue of $29.03 million for the quarter, compared to analysts’ expectations of $28.19 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. Sell-side analysts predict that Ceva will post -0.17 earnings per share for the current year.
Institutional Trading of Ceva
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Ceva during the 2nd quarter valued at about $113,995,000. AWM Investment Company Inc. purchased a new stake in shares of Ceva in the second quarter worth approximately $37,719,000. Deutsche Bank AG purchased a new stake in shares of Ceva in the second quarter worth approximately $33,941,000. Oaktop Capital Management II L.P. acquired a new stake in shares of Ceva during the second quarter worth approximately $21,051,000. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Ceva by 3.9% during the first quarter. Rice Hall James & Associates LLC now owns 419,388 shares of the semiconductor company’s stock worth $7,834,000 after purchasing an additional 15,632 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.
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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