Brokerages Set Ceva, Inc. (NASDAQ:CEVA) Target Price at $34.00

Shares of Ceva, Inc. (NASDAQ:CEVA) have received a consensus rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $34.00.

CEVA has been the subject of several research analyst reports. Barclays upped their price objective on shares of Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Ceva in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Finally, Loop Capital assumed coverage on shares of Ceva in a report on Monday, December 1st. They issued a “buy” rating and a $28.00 target price on the stock.

Ceva Stock Performance

CEVA opened at $21.09 on Tuesday. Ceva has a one year low of $18.23 and a one year high of $38.94. The company has a market cap of $506.58 million, a P/E ratio of -45.85 and a beta of 1.43. The business’s 50-day simple moving average is $22.11 and its 200-day simple moving average is $23.78.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings results on Monday, November 10th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $28.38 million for the quarter, compared to analyst estimates of $28.04 million. Ceva had a negative net margin of 10.49% and a negative return on equity of 3.54%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. As a group, analysts predict that Ceva will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceva

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Senvest Management LLC raised its stake in Ceva by 8.4% during the 2nd quarter. Senvest Management LLC now owns 2,151,632 shares of the semiconductor company’s stock valued at $47,293,000 after acquiring an additional 166,425 shares during the last quarter. AWM Investment Company Inc. increased its holdings in shares of Ceva by 8.5% in the second quarter. AWM Investment Company Inc. now owns 667,162 shares of the semiconductor company’s stock valued at $14,664,000 after purchasing an additional 52,000 shares during the period. Acadian Asset Management LLC raised its stake in shares of Ceva by 24.0% during the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock worth $14,346,000 after purchasing an additional 126,267 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Ceva by 40.6% during 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. Finally, Geode Capital Management LLC lifted its holdings in shares of Ceva by 0.6% during the second quarter. Geode Capital Management LLC now owns 562,133 shares of the semiconductor company’s stock worth $12,357,000 after purchasing an additional 3,369 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.

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.