Ceva (NASDAQ:CEVA) Coverage Initiated at TD Cowen

Research analysts at TD Cowen started coverage on shares of Ceva (NASDAQ:CEVA) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $22.00 price target on the semiconductor company’s stock. TD Cowen’s target price would suggest a potential upside of 18.47% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. UBS Group assumed coverage on Ceva in a research report on Wednesday, February 25th. They set a “buy” rating and a $27.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $30.00 target price (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Ceva in a research report on Thursday, March 12th. Stifel Nicolaus initiated coverage on shares of Ceva in a research note on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Loop Capital assumed coverage on Ceva in a report on Monday, December 1st. They issued a “buy” rating and a $28.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.29.

Ceva Price Performance

Shares of Ceva stock opened at $18.57 on Friday. The company has a market capitalization of $515.32 million, a P/E ratio of -43.19 and a beta of 1.49. The business has a 50-day moving average of $21.14 and a two-hundred day moving average of $23.25. Ceva has a 1 year low of $17.85 and a 1 year high of $30.88.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in shares of Ceva by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock valued at $217,000 after acquiring an additional 479 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Ceva by 2.6% during the third quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after acquiring an additional 550 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 632 shares during the period. Sanctuary Advisors LLC raised its holdings in Ceva by 7.1% during the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock worth $220,000 after buying an additional 674 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ceva by 4.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,465 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 775 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

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.