Ceva, Inc. (NASDAQ:CEVA) Receives Average Recommendation of “Moderate Buy” from Analysts

Ceva, Inc. (NASDAQ:CEVA) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $34.00.

Several research firms have recently weighed in on CEVA. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Ceva in a report on Tuesday, November 11th. Barclays upped their target price on shares of Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Loop Capital began coverage on Ceva in a research note on Monday, December 1st. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th.

Ceva Price Performance

Shares of Ceva stock opened at $21.08 on Tuesday. Ceva has a 1 year low of $18.23 and a 1 year high of $38.94. The business has a 50-day moving average of $22.14 and a two-hundred day moving average of $23.77. The company has a market capitalization of $506.30 million, a P/E ratio of -45.83 and a beta of 1.43.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, November 10th. The semiconductor company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Ceva had a negative return on equity of 3.54% and a negative net margin of 10.49%.The business had revenue of $28.38 million for the quarter, compared to analysts’ expectations of $28.04 million. During the same quarter in the previous year, the business posted $0.14 EPS. Ceva’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Ceva will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Ceva

Hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC raised its holdings in shares of Ceva by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 674 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Ceva in the fourth quarter valued at $391,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ceva by 47.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 2,172 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its stake in Ceva by 5.8% in the 4th quarter. Silverberg Bernstein Capital Management LLC now owns 140,147 shares of the semiconductor company’s stock valued at $3,016,000 after buying an additional 7,700 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Ceva by 11.9% during the 4th quarter. SG Americas Securities LLC now owns 23,364 shares of the semiconductor company’s stock worth $503,000 after buying an additional 2,484 shares in the last quarter. 85.37% of the stock is owned by institutional investors.

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.