Ceva, Inc. (NASDAQ:CEVA) Given Average Rating of “Moderate Buy” by Analysts

Ceva, Inc. (NASDAQ:CEVA) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.6667.

A number of brokerages recently commented on CEVA. Oppenheimer reiterated an “outperform” rating and set a $30.00 price target (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. Loop Capital began coverage on Ceva in a research note on Monday, December 1st. They issued a “buy” rating and a $28.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. Stifel Nicolaus began coverage on Ceva in a research note on Tuesday, February 10th. They set a “buy” rating and a $30.00 target price on the stock. Finally, UBS Group began coverage on shares of Ceva in a report on Wednesday, February 25th. They issued a “buy” rating and a $27.00 price target on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. VARCOV Co. bought a new stake in shares of Ceva in the 4th quarter worth approximately $498,000. Tudor Investment Corp ET AL bought a new position in Ceva during the fourth quarter valued at $305,000. Quadrature Capital Ltd bought a new position in Ceva during the fourth quarter valued at $383,000. Numerai GP LLC purchased a new stake in Ceva in the fourth quarter worth $1,042,000. Finally, Millennium Management LLC increased its position in Ceva by 2,735.2% in 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 during the last quarter. 85.37% of the stock is owned by institutional investors.

Ceva Stock Performance

NASDAQ:CEVA opened at $18.50 on Wednesday. Ceva has a 52 week low of $17.92 and a 52 week high of $30.88. The firm has a 50-day moving average price of $21.40 and a two-hundred day moving average price of $23.33. The firm has a market cap of $513.45 million, a price-to-earnings ratio of -43.02 and a beta of 1.49.

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