Ceva (NASDAQ:CEVA) Coverage Initiated at UBS Group

Investment analysts at UBS Group began coverage on shares of Ceva (NASDAQ:CEVA) in a report released on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $27.00 price target on the semiconductor company’s stock. UBS Group’s price objective would indicate a potential upside of 34.13% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Ceva in a report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 target price for the company. Barclays boosted their price objective on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Oppenheimer reissued an “outperform” rating and set a $30.00 target price (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Ceva in a research report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.67.

Ceva Stock Performance

Shares of Ceva stock opened at $20.13 on Wednesday. The stock has a 50 day moving average of $21.96 and a 200 day moving average of $23.65. The firm has a market capitalization of $483.52 million, a price-to-earnings ratio of -46.81 and a beta of 1.50. Ceva has a fifty-two week low of $18.23 and a fifty-two week high of $38.94.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The business had revenue of $31.29 million for the quarter, compared to analyst estimates of $31.03 million. During the same quarter in the prior year, the company posted $0.11 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts forecast that Ceva will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Ceva

Several institutional investors have recently added to or reduced their stakes in CEVA. Hantz Financial Services Inc. boosted its holdings in Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 632 shares in the last quarter. State of Wyoming purchased a new stake in shares of Ceva during the 3rd quarter worth approximately $39,000. AlphaQuest LLC boosted its holdings in shares of Ceva by 123.6% in the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 1,355 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Ceva by 422.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 2,208 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Ceva by 771.8% during the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 2,107 shares during the last quarter. 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.