Shares of Ceva, Inc. (NASDAQ:CEVA – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.60 and last traded at $49.0750, with a volume of 99446 shares trading hands. The stock had previously closed at $49.72.
Wall Street Analyst Weigh In
CEVA has been the topic of several analyst reports. Oppenheimer raised their target price on Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Needham & Company LLC began coverage on Ceva in a report on Monday, June 15th. They issued a “buy” rating and a $55.00 price target for the company. Roth Mkm restated a “buy” rating and issued a $40.00 price objective on shares of Ceva in a research report on Monday, May 11th. TD Cowen raised their price objective on shares of Ceva from $24.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus set a $42.00 target price on shares of Ceva in a report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.00.
View Our Latest Stock Analysis on CEVA
Ceva Stock Performance
Ceva (NASDAQ:CEVA – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $27.02 million during the quarter, compared to analyst estimates of $26.12 million. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.Ceva’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. On average, equities research analysts expect that Ceva, Inc. will post -0.21 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in CEVA. Millennium Management LLC raised its position in 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 acquiring an additional 574,592 shares during the period. Defiance ETFs LLC purchased a new position in Ceva during the fourth quarter valued at $10,420,000. Handelsbanken Fonder AB grew its position in shares of Ceva by 1,287.5% in 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. Neuberger Berman Group LLC grew its position in shares of Ceva by 44.1% in the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock valued at $21,505,000 after purchasing an additional 305,540 shares during the period. Finally, HRT Financial LP purchased a new stake in shares of Ceva during the fourth quarter worth about $5,182,000. 85.37% of the stock is owned by institutional investors and hedge funds.
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.
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