Ceva (NASDAQ:CEVA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ceva (NASDAQ:CEVA) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

A number of other research analysts also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Friday, October 2nd. Rosenblatt Securities increased their price objective on Ceva from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Oppenheimer cut 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. Needham & Company LLC dropped their price target on shares of Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Benchmark upgraded shares of Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.80.

Ceva Price Performance

CEVA opened at $28.10 on Friday. The company’s 50 day simple moving average is $30.50 and its 200 day simple moving average is $30.51. Ceva has a 1 year low of $17.02 and a 1 year high of $51.60.

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

Institutional Investors Weigh In On Ceva

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Ceva in the 2nd quarter valued at approximately $113,995,000. AWM Investment Company Inc. bought a new position in shares of Ceva in the second quarter valued at $37,719,000. Deutsche Bank AG bought a new stake in Ceva during the second quarter worth $33,941,000. Oaktop Capital Management II L.P. purchased a new stake in Ceva in the 2nd quarter valued at about $21,051,000. Finally, Rice Hall James & Associates LLC raised its stake in shares of Ceva by 3.9% during the 1st quarter. Rice Hall James & Associates LLC now owns 419,388 shares of the semiconductor company’s stock worth $7,834,000 after purchasing an additional 15,632 shares during the period. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Company Profile

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.