Ceva (NASDAQ:CEVA) Price Target Cut to $35.00 by Analysts at TD Cowen

Ceva (NASDAQ:CEVA) had its price objective reduced by TD Cowen from $45.00 to $35.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Friday, October 2nd. Rosenblatt Securities boosted their price objective on Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Needham & Company LLC dropped their price target on shares of Ceva from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Oppenheimer cut their price objective on Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Ceva from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.60.

Ceva Stock Up 4.7%

CEVA stock opened at $28.78 on Monday. The firm has a market cap of $810.16 million, a PE ratio of -71.95 and a beta of 1.93. Ceva has a twelve month low of $17.02 and a twelve month high of $51.60. The business has a 50 day moving average of $30.54 and a 200 day moving average of $34.40.

Ceva (NASDAQ:CEVA) last issued its earnings results on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The business had revenue of $29.03 million during the quarter, compared to analysts’ expectations of $28.19 million. During the same period in the previous year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts expect that Ceva will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Ceva

Institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new stake in shares of Ceva during the second quarter worth about $49,000. Integrated Wealth Concepts LLC purchased a new stake in Ceva in the second quarter valued at $52,000. State of Alaska Department of Revenue acquired a new stake in Ceva during the third quarter worth about $62,000. Sanctuary Advisors LLC lifted its stake in shares of Ceva by 7.6% in the 1st quarter. Sanctuary Advisors LLC now owns 11,003 shares of the semiconductor company’s stock valued at $206,000 after purchasing an additional 773 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Ceva during the 2nd quarter valued at about $343,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Company Profile

CEVA, Inc is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and sensing technologies. Its products are designed for integration into system-on-chip devices used in mobile, consumer, automotive, industrial and Internet of Things applications.

The company’s portfolio includes digital signal processors and specialized processor architectures for artificial intelligence, computer vision, audio, imaging and communications. CEVA also offers intellectual property for wireless technologies such as 5G, Wi-Fi, Bluetooth and ultra-wideband, as well as platforms supporting sensor fusion and edge computing.