Ceva (NASDAQ:CEVA) Shares Gap Up – Time to Buy?

Ceva, Inc. (NASDAQ:CEVA) shares gapped up prior to trading on Friday . The stock had previously closed at $26.34, but opened at $27.38. Ceva shares last traded at $25.82, with a volume of 152,050 shares traded.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ceva in a research report on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $35.60.

Ceva Stock Up 0.3%

The company has a market capitalization of $630.91 million, a price-to-earnings ratio of -62.90 and a beta of 1.26. The stock has a 50 day moving average of $22.95 and a 200 day moving average of $23.36.

Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, August 11th. The semiconductor company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The business had revenue of $25.68 million for the quarter, compared to analyst estimates of $25.33 million. During the same period in the prior year, the company earned $0.17 EPS. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of Ceva

Several large investors have recently bought and sold shares of CEVA. FNY Investment Advisers LLC acquired a new stake in Ceva during the 2nd quarter worth $42,000. AlphaQuest LLC raised its holdings in shares of Ceva by 123.6% during the second quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 1,355 shares during the period. Tower Research Capital LLC TRC lifted its position in Ceva by 422.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,208 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Ceva by 44.5% during the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 1,058 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Ceva by 5.1% in the second quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock worth $217,000 after buying an additional 479 shares during the period. Hedge funds and other institutional investors 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.