CEVA (NASDAQ:CEVA) Price Target Lowered to $33.00 at Oppenheimer

CEVA (NASDAQ:CEVA) had its price target lowered by Oppenheimer from $40.00 to $33.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price would suggest a potential upside of 64.26% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Barclays dropped their target price on shares of CEVA from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of CEVA in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.60.

CEVA Trading Down 0.7 %

CEVA opened at $20.09 on Friday. CEVA has a 1-year low of $16.02 and a 1-year high of $38.94. The stock has a market capitalization of $480.35 million, a PE ratio of -54.30 and a beta of 1.37. The firm has a 50-day moving average price of $26.04 and a two-hundred day moving average price of $29.35.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $24.25 million for the quarter, compared to analyst estimates of $26.55 million. CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. On average, research analysts predict that CEVA will post -0.12 EPS for the current year.

Insider Buying and Selling

In other news, Director Louis Silver sold 4,520 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the sale, the director now owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of CEVA

A number of large investors have recently bought and sold shares of CEVA. Deutsche Bank AG lifted its stake in CEVA by 24.4% in the first quarter. Deutsche Bank AG now owns 147,493 shares of the semiconductor company’s stock valued at $3,777,000 after buying an additional 28,939 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in CEVA by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 231,369 shares of the semiconductor company’s stock valued at $5,925,000 after acquiring an additional 4,624 shares in the last quarter. Vanguard Group Inc. lifted its position in CEVA by 13.0% in the 1st quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company’s stock valued at $62,657,000 after acquiring an additional 281,274 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in CEVA in the 1st quarter worth $225,000. Finally, D.A. Davidson & CO. raised its stake in shares of CEVA by 5.7% in the 1st quarter. D.A. Davidson & CO. now owns 63,437 shares of the semiconductor company’s stock valued at $1,625,000 after purchasing an additional 3,423 shares during the period. 85.37% of the stock is owned by institutional investors.

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.