Ceva (NASDAQ:CEVA) Stock Dropped to Hold by Wall Street Zen

Wall Street Zen cut shares of Ceva (NASDAQ:CEVA) from a buy rating to a hold rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Several other research firms have also weighed in on CEVA. Needham & Company LLC reduced their price target on shares of Ceva from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, August 10th. UBS Group lowered their price objective on shares of Ceva from $48.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, November 2nd. Benchmark raised shares of Ceva from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. Oppenheimer dropped their target price on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

Ceva Stock Performance

Shares of CEVA opened at $27.10 on Friday. The stock has a 50 day moving average of $30.48 and a 200 day moving average of $30.60. The company has a market capitalization of $762.97 million, a price-to-earnings ratio of -67.75 and a beta of 1.98. Ceva has a 12 month low of $17.02 and a 12 month high of $51.60.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $29.03 million for the quarter, compared to analysts’ expectations of $28.19 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts predict that Ceva will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Ceva

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CEVA. Sterling Capital Management LLC lifted its holdings in shares of Ceva by 492.6% in the third quarter. Sterling Capital Management LLC now owns 877 shares of the semiconductor company’s stock worth $31,000 after buying an additional 729 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Ceva in the second quarter valued at approximately $49,000. Integrated Wealth Concepts LLC purchased a new position in Ceva during the second quarter valued at approximately $52,000. State of Alaska Department of Revenue purchased a new position in Ceva during the third quarter valued at approximately $62,000. Finally, SBI Securities Co. Ltd. grew its stake in Ceva by 771.7% during the third quarter. SBI Securities Co. Ltd. now owns 1,970 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 1,744 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

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.