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

CEVA, Inc. (NASDAQ:CEVA) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $27.00.

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of CEVA in a report on Tuesday, February 13th. TD Cowen increased their target price on shares of CEVA from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th.

CEVA Stock Down 2.9 %

NASDAQ CEVA opened at $20.53 on Tuesday. The company has a 50-day moving average price of $22.58 and a 200-day moving average price of $21.32. The firm has a market capitalization of $484.10 million, a P/E ratio of -40.25 and a beta of 1.14. CEVA has a 52 week low of $16.38 and a 52 week high of $28.78.

CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, February 14th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $24.16 million during the quarter, compared to analyst estimates of $24.32 million. CEVA had a negative net margin of 11.52% and a negative return on equity of 5.30%. The firm’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. As a group, equities research analysts anticipate that CEVA will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other CEVA news, Director Louis Silver sold 4,730 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $23.19, for a total value of $109,688.70. Following the completion of the transaction, the director now directly owns 40,576 shares in the company, valued at approximately $940,957.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Silverberg Bernstein Capital Management LLC purchased a new stake in CEVA in the fourth quarter worth $1,653,000. PNC Financial Services Group Inc. increased its stake in CEVA by 99.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 798 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in CEVA by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,320 shares of the semiconductor company’s stock worth $7,665,000 after purchasing an additional 101,737 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in CEVA by 38.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,771 shares of the semiconductor company’s stock worth $248,000 after purchasing an additional 3,549 shares during the period. Finally, Numerai GP LLC purchased a new stake in CEVA in the third quarter worth $201,000. 85.37% of the stock is currently owned by institutional investors.

About CEVA

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.