Ceva, Inc. (NASDAQ:CEVA) Stock Has Consensus Target Price of $40.60 According to Analysts

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $40.60.

A number of equities research analysts have recently commented on the stock. Needham & Company LLC lowered their price target on shares of Ceva from $55.00 to $43.00 and set a “buy” rating for the company in a report on Monday, August 10th. Oppenheimer reduced their price objective 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. Stifel Nicolaus raised their target price on shares of Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Wall Street Zen raised shares of Ceva from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, TD Cowen cut their price target on Ceva from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, August 11th.

Ceva Stock Down 1.3%

Shares of NASDAQ:CEVA opened at $36.17 on Friday. The company has a market capitalization of $1.02 billion, a P/E ratio of -90.42 and a beta of 1.93. Ceva has a 52-week low of $17.02 and a 52-week high of $51.60. The stock’s fifty day simple moving average is $31.04 and its 200-day simple moving average is $33.61.

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

Hedge Funds Weigh In On Ceva

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Ceva during the second quarter worth approximately $113,995,000. AWM Investment Company Inc. purchased a new position in Ceva during the second quarter worth approximately $37,719,000. Deutsche Bank AG acquired a new position in shares of Ceva in the 2nd quarter valued at $33,941,000. Oaktop Capital Management II L.P. acquired a new position in shares of Ceva in the 2nd quarter valued at $21,051,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Ceva during the 2nd quarter valued at $4,612,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

About Ceva

CEVA, Inc is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and sensing technologies. Its products are designed for integration into system-on-chip devices used in mobile, consumer, automotive, industrial and Internet of Things applications.

The company’s portfolio includes digital signal processors and specialized processor architectures for artificial intelligence, computer vision, audio, imaging and communications. CEVA also offers intellectual property for wireless technologies such as 5G, Wi-Fi, Bluetooth and ultra-wideband, as well as platforms supporting sensor fusion and edge computing.