Ceva, Inc. (NASDAQ:CEVA) Given Average Recommendation of “Moderate Buy” by Analysts

by · The Cerbat Gem

Shares of Ceva, Inc. (NASDAQ:CEVA – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $34.00.

A number of brokerages have recently weighed in on CEVA. Loop Capital initiated coverage on shares of Ceva in a research note on Monday, December 1st. They set a “buy” rating and a $28.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Tuesday, October 14th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price target on shares of Ceva in a report on Tuesday, November 11th. Finally, Barclays increased their price objective on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th.

Get Our Latest Report on Ceva

Ceva Stock Performance

Ceva stock opened at $23.71 on Friday. Ceva has a fifty-two week low of $18.23 and a fifty-two week high of $38.94. The firm has a market capitalization of $569.51 million, a price-to-earnings ratio of -51.54 and a beta of 1.43. The stock’s fifty day moving average is $22.83 and its two-hundred day moving average is $23.75.

Ceva (NASDAQ:CEVA – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Ceva had a negative net margin of 10.49% and a negative return on equity of 3.54%. The business had revenue of $28.38 million for the quarter, compared to analyst estimates of $28.04 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Ceva will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Ceva

A number of institutional investors have recently modified their holdings of CEVA. Senvest Management LLC boosted its position in Ceva by 8.4% during the second quarter. Senvest Management LLC now owns 2,151,632 shares of the semiconductor company’s stock worth $47,293,000 after acquiring an additional 166,425 shares during the last quarter. AWM Investment Company Inc. boosted its holdings in shares of Ceva by 8.5% during the second quarter. AWM Investment Company Inc. now owns 667,162 shares of the semiconductor company’s stock worth $14,664,000 after purchasing an additional 52,000 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Ceva by 24.0% in the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock valued at $14,346,000 after purchasing an additional 126,267 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in Ceva by 40.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock valued at $13,624,000 after purchasing an additional 179,098 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Ceva by 0.6% in the second quarter. Geode Capital Management LLC now owns 562,133 shares of the semiconductor company’s stock valued at $12,357,000 after purchasing an additional 3,369 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

About Ceva

(Get Free Report)

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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