CEVA, Inc. (NASDAQ:CEVA) Given Consensus Recommendation of “Buy” by Brokerages

Shares of CEVA, Inc. (NASDAQ:CEVA) have earned an average recommendation of “Buy” from the five research firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $35.60.

A number of equities research analysts have recently issued reports on CEVA shares. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Oppenheimer cut their price objective on CEVA from $40.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price objective on shares of CEVA in a research note on Thursday, May 8th. Finally, Barclays dropped their target price on shares of CEVA from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, May 8th.

Insider Activity

In related news, Director Louis Silver sold 4,520 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the transaction, the director now directly owns 47,038 shares in the company, valued at approximately $1,457,237.24. This represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CEVA. Rhumbline Advisers lifted its holdings in CEVA by 2.8% in the fourth quarter. Rhumbline Advisers now owns 73,270 shares of the semiconductor company’s stock valued at $2,312,000 after acquiring an additional 2,027 shares during the last quarter. Principal Financial Group Inc. lifted its position in CEVA by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company’s stock valued at $3,637,000 after buying an additional 3,171 shares during the last quarter. D.A. Davidson & CO. lifted its position in CEVA by 7.9% in the fourth quarter. D.A. Davidson & CO. now owns 60,014 shares of the semiconductor company’s stock valued at $1,893,000 after buying an additional 4,417 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in CEVA by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company’s stock valued at $7,154,000 after buying an additional 3,783 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in CEVA in the fourth quarter valued at about $215,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Stock Down 2.4%

Shares of CEVA stock opened at $20.21 on Thursday. CEVA has a 52 week low of $16.02 and a 52 week high of $38.94. The firm has a market capitalization of $483.22 million, a PE ratio of -54.62 and a beta of 1.37. The company has a 50 day moving average price of $24.45 and a 200-day moving average price of $29.16.

CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $26.55 million. CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. Analysts anticipate that CEVA will post -0.12 earnings per share for the current year.

CEVA Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.