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

Ceva, Inc. (NASDAQ:CEVA) has received an average rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $32.60.

A number of analysts have recently issued reports on CEVA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Ceva in a research note on Wednesday. Stifel Nicolaus started coverage on shares of Ceva in a research report on Tuesday, February 10th. They set a “buy” rating and a $30.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of Ceva in a report on Wednesday. Finally, Barclays increased their price objective on shares of Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th.

Ceva Price Performance

Ceva stock opened at $19.46 on Friday. The company’s 50-day moving average is $22.04 and its 200-day moving average is $23.65. The firm has a market capitalization of $467.43 million, a PE ratio of -45.25 and a beta of 1.50. Ceva has a fifty-two week low of $18.23 and a fifty-two week high of $38.94.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $31.29 million during the quarter, compared to analysts’ expectations of $31.03 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.Ceva’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. As a group, analysts expect that Ceva will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Ceva

Several hedge funds have recently bought and sold shares of CEVA. VARCOV Co. bought a new position in shares of Ceva during the fourth quarter worth approximately $498,000. Tudor Investment Corp ET AL acquired a new position in Ceva in the 4th quarter valued at $305,000. Quadrature Capital Ltd bought a new position in Ceva during the 4th quarter worth $383,000. Numerai GP LLC bought a new position in Ceva during the 4th quarter worth $1,042,000. Finally, Millennium Management LLC lifted its holdings in shares of Ceva by 2,735.2% during the fourth quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after buying an additional 574,592 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Company Profile

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.