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

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $34.00.

Several research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Tuesday, October 14th. Loop Capital initiated coverage on Ceva in a research note on Monday, December 1st. They set a “buy” rating and a $28.00 price objective on the stock. Barclays raised their target price on shares of Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Ceva in a research report on Tuesday, November 11th.

Institutional Investors Weigh In On Ceva

Several hedge funds have recently bought and sold shares of the company. K2 Principal Fund L.P. acquired a new position in Ceva during the first quarter worth approximately $485,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ceva in the first quarter valued at approximately $1,328,000. Voya Investment Management LLC boosted its stake in shares of Ceva by 52.2% during the 1st quarter. Voya Investment Management LLC now owns 59,712 shares of the semiconductor company’s stock worth $1,529,000 after acquiring an additional 20,469 shares during the period. Silverberg Bernstein Capital Management LLC increased its holdings in shares of Ceva by 35.6% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 121,023 shares of the semiconductor company’s stock worth $2,660,000 after acquiring an additional 31,769 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Ceva by 8.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,252 shares of the semiconductor company’s stock worth $313,000 after acquiring an additional 1,160 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Trading Down 1.1%

Ceva stock opened at $21.52 on Friday. Ceva has a 1-year low of $18.23 and a 1-year high of $38.94. The company has a fifty day simple moving average of $23.14 and a 200 day simple moving average of $23.65. The company has a market cap of $516.91 million, a P/E ratio of -46.78 and a beta of 1.43.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, November 10th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $28.38 million during the quarter, compared to the consensus estimate of $28.04 million. Ceva had a negative net margin of 10.49% and a negative return on equity of 3.54%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. On average, equities research analysts forecast that Ceva will post -0.12 EPS for the current year.

About Ceva

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.