Ceva (NASDAQ:CEVA) Stock Price Down 8.2% – Time to Sell?

Ceva, Inc. (NASDAQ:CEVA) shares fell 8.2% during mid-day trading on Tuesday . The stock traded as low as $20.75 and last traded at $20.80. 298,064 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 312,220 shares. The stock had previously closed at $22.67.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CEVA. Oppenheimer reaffirmed an “outperform” rating and set a $30.00 target price (down previously from $33.00) on shares of Ceva in a research note on Wednesday. Loop Capital began coverage on shares of Ceva in a research report on Monday, December 1st. They set a “buy” rating and a $28.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Ceva in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Friday, January 9th. Finally, Stifel Nicolaus assumed coverage on Ceva in a research note on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Ceva Price Performance

The company’s 50 day simple moving average is $22.09 and its 200 day simple moving average is $23.67. The firm has a market cap of $472.47 million, a price-to-earnings ratio of -45.74 and a beta of 1.50.

Ceva (NASDAQ:CEVA) last released its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The firm had revenue of $31.29 million during the quarter, compared to analyst estimates of $31.03 million. During the same period last year, the business posted $0.11 earnings per share. Ceva’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Ceva, Inc. will post -0.12 earnings per share for the current year.

Institutional Trading of Ceva

Several hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its holdings in Ceva by 77.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 632 shares in the last quarter. State of Wyoming acquired a new stake in shares of Ceva in the 3rd quarter valued at $39,000. FNY Investment Advisers LLC purchased a new stake in shares of Ceva during the 2nd quarter worth $42,000. AlphaQuest LLC grew its stake in shares of Ceva by 123.6% during the second quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Ceva by 422.2% during 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 in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Company Profile

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.