Barclays Forecasts Strong Price Appreciation for Ceva (NASDAQ:CEVA) Stock

Ceva (NASDAQ:CEVA) had its price objective increased by equities research analysts at Barclays from $30.00 to $35.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s price objective suggests a potential upside of 40.22% from the company’s current price.

Several other brokerages have also recently commented on CEVA. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ceva in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Ceva currently has an average rating of “Moderate Buy” and an average target price of $35.75.

Ceva Stock Performance

NASDAQ:CEVA opened at $24.96 on Wednesday. The business’s fifty day moving average is $26.67 and its 200 day moving average is $23.69. The firm has a market cap of $596.09 million, a price-to-earnings ratio of -59.43 and a beta of 1.32. Ceva has a 52-week low of $18.31 and a 52-week high of $38.94.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, November 10th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The business had revenue of $28.38 million during the quarter, compared to analyst estimates of $28.04 million. During the same quarter in the previous year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that Ceva will post -0.12 EPS for the current fiscal year.

Institutional Trading of Ceva

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in Ceva by 2.3% in the first quarter. Principal Financial Group Inc. now owns 117,894 shares of the semiconductor company’s stock worth $3,019,000 after acquiring an additional 2,629 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ceva in the 1st quarter worth about $225,000. Vanguard Group Inc. increased its position in shares of Ceva by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company’s stock valued at $62,657,000 after purchasing an additional 281,274 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ceva by 2.0% during 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 buying an additional 4,624 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Ceva by 24.4% in the 1st quarter. Deutsche Bank AG now owns 147,493 shares of the semiconductor company’s stock worth $3,777,000 after buying an additional 28,939 shares during the last quarter. 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.