CEVA, Inc. (NASDAQ:CEVA) Receives $27.00 Consensus Target Price from Analysts

Shares of CEVA, Inc. (NASDAQ:CEVA) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.00.

A number of research analysts have commented on the company. TD Cowen upped their price target on CEVA from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of CEVA in a report on Tuesday, February 13th.

Insider Activity at CEVA

In other CEVA news, Director Louis Silver sold 4,730 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $23.19, for a total value of $109,688.70. Following the completion of the transaction, the director now owns 40,576 shares in the company, valued at $940,957.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CEVA

A number of institutional investors and hedge funds have recently made changes to their positions in CEVA. Quadrant Capital Group LLC boosted its position in shares of CEVA by 122.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 641 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in CEVA by 99.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 798 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CEVA by 64.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,108 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,617 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of CEVA by 69.8% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,363 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 1,794 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of CEVA by 49.5% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,335 shares of the semiconductor company’s stock worth $142,000 after purchasing an additional 2,429 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

CEVA Stock Performance

Shares of CEVA stock opened at $18.91 on Tuesday. The company’s 50 day moving average price is $22.47 and its 200-day moving average price is $21.34. CEVA has a 52-week low of $16.38 and a 52-week high of $27.65. The stock has a market capitalization of $445.90 million, a price-to-earnings ratio of -37.08 and a beta of 1.14.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $24.16 million for the quarter, compared to analysts’ expectations of $24.32 million. CEVA had a negative net margin of 11.52% and a negative return on equity of 5.30%. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. As a group, equities research analysts forecast that CEVA will post -0.35 earnings per share for the current fiscal year.

CEVA Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.