Ceva, Inc. (NASDAQ:CEVA) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Ceva, Inc. (NASDAQ:CEVA) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $38.80.

Several brokerages have recently commented on CEVA. Rosenblatt Securities increased their price target on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Benchmark raised Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Needham & Company LLC decreased their price objective on Ceva from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Wall Street Zen raised shares of Ceva from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Oppenheimer cut their price target on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th.

Hedge Funds Weigh In On Ceva

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC grew its position in Ceva by 492.6% during the 3rd quarter. Sterling Capital Management LLC now owns 877 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 729 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Ceva in the second quarter valued at about $49,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Ceva during the second quarter worth $52,000. State of Alaska Department of Revenue bought a new position in Ceva during the third quarter worth $62,000. Finally, SBI Securities Co. Ltd. lifted its holdings in Ceva by 771.7% in the third quarter. SBI Securities Co. Ltd. now owns 1,970 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 1,744 shares during the period. Institutional investors own 85.37% of the company’s stock.

Ceva Price Performance

NASDAQ:CEVA opened at $28.02 on Thursday. Ceva has a 1 year low of $17.02 and a 1 year high of $51.60. The business has a fifty day moving average of $30.57 and a 200-day moving average of $30.57.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The company had revenue of $29.03 million during the quarter, compared to the consensus estimate of $28.19 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts forecast that Ceva will post -0.17 earnings per share for the current year.

About Ceva

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.