Ceva, Inc. (NASDAQ:CEVA) Receives $31.67 Average Price Target from Analysts

Ceva, Inc. (NASDAQ:CEVA) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.2857.

Several equities analysts recently weighed in on CEVA shares. Loop Capital began coverage on Ceva in a research report on Monday, December 1st. They set a “buy” rating and a $28.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and set a $30.00 price objective (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Stifel Nicolaus initiated coverage on shares of Ceva in a research note on Tuesday, February 10th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Ceva in a report on Thursday, March 12th.

Institutional Investors Weigh In On Ceva

Institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in Ceva by 77.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 632 shares in the last quarter. State of Wyoming acquired a new stake in shares of Ceva in the third quarter worth $39,000. Tower Research Capital LLC TRC increased its position in shares of Ceva by 422.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 2,208 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Ceva by 771.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after acquiring an additional 2,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ceva by 47.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 2,172 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Stock Performance

Shares of NASDAQ CEVA opened at $18.57 on Wednesday. The firm has a market cap of $515.32 million, a P/E ratio of -43.19 and a beta of 1.49. Ceva has a 1 year low of $17.85 and a 1 year high of $30.88. The firm’s 50 day moving average price is $21.14 and its 200 day moving average price is $23.24.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share 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 company had revenue of $31.29 million during the quarter, compared to the consensus estimate of $31.03 million. During the same period in the previous year, the firm posted $0.11 EPS. Ceva’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Ceva will post -0.12 EPS for the current year.

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.