Ceva’s (CEVA) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Ceva (NASDAQ:CEVA) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $40.00 target price on the semiconductor company’s stock.

Other research analysts also recently issued research reports about the stock. Barclays cut their target price on shares of Ceva from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Oppenheimer dropped their price objective on shares of Ceva from $40.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.60.

Ceva Trading Down 3.3%

Shares of CEVA stock opened at $23.31 on Thursday. The firm has a 50-day moving average price of $22.20 and a 200 day moving average price of $25.18. Ceva has a twelve month low of $18.31 and a twelve month high of $38.94. The company has a market capitalization of $556.69 million, a price-to-earnings ratio of -55.50 and a beta of 1.25.

Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, August 11th. The semiconductor company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. The firm had revenue of $25.68 million during the quarter, compared to the consensus estimate of $25.33 million. During the same quarter in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, research analysts predict that Ceva will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Ceva by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company’s stock worth $62,657,000 after purchasing an additional 281,274 shares in the last quarter. Senvest Management LLC increased its position in Ceva by 8.4% during the 2nd quarter. Senvest Management LLC now owns 2,151,632 shares of the semiconductor company’s stock worth $47,293,000 after purchasing an additional 166,425 shares in the last quarter. AWM Investment Company Inc. increased its position in Ceva by 8.5% during the 2nd 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 in the last quarter. Acadian Asset Management LLC increased its position in Ceva by 24.0% during the 2nd quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock worth $14,346,000 after purchasing an additional 126,267 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its position in Ceva by 40.6% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after purchasing an additional 179,098 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

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.