Ceva, Inc. (NASDAQ:CEVA) Receives $39.44 Consensus PT from Brokerages

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $39.4444.

A number of brokerages recently commented on CEVA. Rosenblatt Securities increased their price target on Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research note on Wednesday, April 8th. Stifel Nicolaus set a $42.00 price target on shares of Ceva in a research note on Tuesday, May 12th. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a research note on Friday, May 8th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Oppenheimer upped their price target on shares of Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th.

Ceva Stock Performance

Shares of CEVA opened at $43.58 on Monday. The company has a market capitalization of $1.21 billion, a PE ratio of -96.84 and a beta of 2.00. The business’s 50 day moving average is $30.69 and its 200 day moving average is $24.58. Ceva has a 12-month low of $17.02 and a 12-month high of $51.25.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The company had revenue of $27.02 million during the quarter, compared to analysts’ expectations of $26.12 million. During the same period last year, the company posted $0.06 earnings per share. Ceva’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that Ceva will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Ceva

Several large investors have recently added to or reduced their stakes in CEVA. Senvest Management LLC boosted its stake in Ceva by 8.0% during the fourth quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company’s stock worth $51,380,000 after buying an additional 177,765 shares during the period. Neuberger Berman Group LLC boosted its stake in Ceva by 44.1% during the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after buying an additional 305,540 shares during the period. AWM Investment Company Inc. boosted its stake in Ceva by 24.1% during the fourth quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock worth $17,814,000 after buying an additional 160,644 shares during the period. Handelsbanken Fonder AB lifted its stake in Ceva by 92.6% in the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock worth $14,730,000 after purchasing an additional 329,047 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in Ceva by 40.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after purchasing an additional 179,098 shares during 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.