StockNews.com Upgrades CEVA (NASDAQ:CEVA) to “Buy”

CEVA (NASDAQ:CEVA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

CEVA has been the subject of a number of other research reports. Barclays increased their price objective on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Northland Securities increased their price target on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $35.00 price target on shares of CEVA in a research report on Tuesday, February 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $36.60.

CEVA Price Performance

CEVA stock traded up $0.52 during mid-day trading on Monday, reaching $28.87. 249,488 shares of the company traded hands, compared to its average volume of 164,753. CEVA has a 52-week low of $16.02 and a 52-week high of $38.94. The firm’s 50 day moving average price is $32.73 and its 200 day moving average price is $29.38. The firm has a market capitalization of $687.31 million, a price-to-earnings ratio of -78.02 and a beta of 1.32.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. On average, sell-side analysts anticipate that CEVA will post -0.12 EPS for the current year.

Insider Transactions at CEVA

In other news, Director Louis Silver sold 4,520 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the completion of the transaction, the director now owns 47,038 shares in the company, valued at $1,457,237.24. The trade was a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.40% of the company’s stock.

Institutional Trading of CEVA

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in CEVA by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock valued at $5,385,000 after purchasing an additional 16,463 shares during the period. Algert Global LLC raised its stake in CEVA by 35.2% during the 3rd quarter. Algert Global LLC now owns 18,843 shares of the semiconductor company’s stock valued at $455,000 after buying an additional 4,910 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in shares of CEVA by 2.5% during the 3rd quarter. Centaurus Financial Inc. now owns 18,083 shares of the semiconductor company’s stock valued at $437,000 after buying an additional 433 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of CEVA in the 3rd quarter worth $220,000. Finally, D.A. Davidson & CO. bought a new stake in shares of CEVA in the third quarter worth $1,343,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

CEVA Company Profile

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.