Ceva (NASDAQ:CEVA) Now Covered by Analysts at UBS Group

UBS Group began coverage on shares of Ceva (NASDAQ:CEVA) in a research report sent to investors on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $27.00 target price on the semiconductor company’s stock.

Several other analysts have also commented on CEVA. Oppenheimer reissued an “outperform” rating and set a $30.00 target price (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Barclays increased their price objective on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ceva in a research note on Wednesday, February 18th. Stifel Nicolaus began coverage on shares of Ceva in a report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research note on Friday, January 9th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Ceva presently has an average rating of “Moderate Buy” and a consensus target price of $31.67.

Ceva Stock Performance

CEVA opened at $21.32 on Wednesday. The company has a market capitalization of $512.11 million, a PE ratio of -49.58 and a beta of 1.50. The stock’s fifty day moving average is $21.98 and its 200-day moving average is $23.64. Ceva has a one year low of $18.23 and a one year high of $38.94.

Ceva (NASDAQ:CEVA) last released its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The firm had revenue of $31.29 million for the quarter, compared to analyst estimates of $31.03 million. During the same period in the previous year, the company earned $0.11 earnings per share. Ceva’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Ceva will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CEVA. AlphaQuest LLC raised its holdings in shares of Ceva by 123.6% during the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 1,355 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Ceva by 24.0% during the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock valued at $14,346,000 after buying an additional 126,267 shares in the last quarter. ProShare Advisors LLC raised its holdings in Ceva by 5.1% during the second quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 479 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ceva by 0.6% in the second quarter. Geode Capital Management LLC now owns 562,133 shares of the semiconductor company’s stock worth $12,357,000 after buying an additional 3,369 shares during the last quarter. Finally, Senvest Management LLC boosted its stake in shares of 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 acquiring an additional 166,425 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

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.