Benchmark upgraded shares of Ceva (NASDAQ:CEVA – Free Report) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks reports.
Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reduced their target price on Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Stifel Nicolaus upped their price target on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 10th. TD Cowen cut their price target on shares of Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Ceva from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.
Read Our Latest Stock Analysis on Ceva
Ceva Stock Performance
Ceva (NASDAQ:CEVA – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $29.03 million during the quarter, compared to analysts’ expectations of $28.19 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. As a group, research analysts forecast that Ceva will post -0.17 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Silverberg Bernstein Capital Management LLC increased its position in shares of Ceva by 0.3% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 140,617 shares of the semiconductor company’s stock worth $2,627,000 after acquiring an additional 470 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Ceva by 77.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 632 shares during the period. Sanctuary Advisors LLC lifted its position in Ceva by 7.6% in the 1st quarter. Sanctuary Advisors LLC now owns 11,003 shares of the semiconductor company’s stock valued at $206,000 after acquiring an additional 773 shares in the last quarter. Centaurus Financial Inc. lifted its position in Ceva by 3.0% in the 1st quarter. Centaurus Financial Inc. now owns 27,645 shares of the semiconductor company’s stock valued at $516,000 after acquiring an additional 800 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Ceva in the 2nd quarter worth $49,000. 85.37% of the stock is owned by institutional investors and hedge funds.
Ceva Company Profile
CEVA, Inc (NASDAQ: CEVA) is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and software for use in wireless communications, consumer electronics, automotive systems, industrial equipment and the Internet of Things. Rather than manufacturing chips, CEVA provides technology that semiconductor companies and original equipment manufacturers can incorporate into their own products.
The company’s portfolio includes digital signal processors, artificial intelligence and neural processing technologies, computer vision and sensor-fusion solutions, and platforms for wireless connectivity.
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