Ceva, Inc. (NASDAQ:CEVA – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.80.
A number of equities analysts have recently weighed in on CEVA shares. Benchmark began coverage on shares of Ceva in a research report on Wednesday, July 15th. They set a “hold” rating on the stock. TD Cowen upped their price target on Ceva from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Roth Capital restated a “buy” rating and set a $40.00 price objective on shares of Ceva in a research note on Monday, May 11th. Rosenblatt Securities raised their target price on shares of Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Oppenheimer lifted their price target on Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th.
Check Out Our Latest Report on CEVA
Ceva Stock Performance
Ceva (NASDAQ:CEVA – Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $27.02 million during the quarter, compared to analysts’ expectations of $26.12 million. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. As a group, sell-side analysts predict that Ceva will post -0.21 earnings per share for the current fiscal year.
Institutional Trading of Ceva
Several hedge funds and other institutional investors have recently modified their holdings of CEVA. Hsbc Holdings PLC bought a new stake in Ceva in the 4th quarter valued at $777,000. Nano Cap New Millennium Growth Fund L P acquired a new position in Ceva in the 4th quarter valued at $603,000. Aster Capital Management DIFC Ltd bought a new position in Ceva during the 4th quarter worth $497,000. Themes Management Co LLC acquired a new stake in shares of Ceva during the fourth quarter worth $939,000. Finally, Needham Investment Management LLC lifted its holdings in shares of Ceva by 16.4% during the fourth quarter. Needham Investment Management LLC now owns 160,000 shares of the semiconductor company’s stock worth $3,443,000 after buying an additional 22,500 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.
About Ceva
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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