Ceva (NASDAQ:CEVA) Shares Up 8.4% – Still a Buy?

Ceva, Inc. (NASDAQ:CEVA) shares traded up 8.4% on Friday . The company traded as high as $32.59 and last traded at $32.9070. 1,304,515 shares traded hands during mid-day trading, an increase of 102% from the average daily volume of 646,613 shares. The stock had previously closed at $30.37.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a research report on Friday, May 8th. They set a “neutral” rating and a $30.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Monday, July 6th. Rosenblatt Securities upped their target price on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, TD Cowen reduced their target price on Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Ceva Stock Up 9.6%

The firm’s 50-day simple moving average is $40.42 and its 200-day simple moving average is $31.05. The firm has a market capitalization of $936.83 million, a PE ratio of -83.20 and a beta of 1.99.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 EPS 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 firm had revenue of $29.03 million for the quarter, compared to the consensus estimate of $28.19 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts forecast that Ceva, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Ceva

Large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its position in Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 632 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Ceva in the second quarter worth approximately $49,000. Tower Research Capital LLC TRC grew its holdings in shares of Ceva by 422.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 2,208 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Ceva by 771.8% in the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after buying an additional 2,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ceva by 47.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock worth $145,000 after buying an additional 2,172 shares during the period. 85.37% of the stock is owned by hedge funds and other 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.