Ceva, Inc. (NASDAQ:CEVA) Receives $39.44 Average Price Target from Brokerages

Ceva, Inc. (NASDAQ:CEVA) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $39.4444.

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research note on Wednesday, April 8th. UBS Group raised their price target on shares of Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a research note on Friday, May 8th. They set a “neutral” rating and a $30.00 price target on the stock. Oppenheimer raised their price target on shares of Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $40.00 price target on shares of Ceva in a research note on Monday, May 11th.

Institutional Investors Weigh In On Ceva

Several hedge funds have recently modified their holdings of the company. Senvest Management LLC boosted its stake in shares of Ceva by 8.0% during the 4th quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company’s stock worth $51,380,000 after purchasing an additional 177,765 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Ceva by 44.1% in the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after acquiring an additional 305,540 shares during the last quarter. AWM Investment Company Inc. boosted its position in shares of Ceva by 24.1% in the fourth quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock worth $17,814,000 after acquiring an additional 160,644 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Ceva by 92.6% in the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock worth $14,730,000 after acquiring an additional 329,047 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Ceva by 40.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after acquiring an additional 179,098 shares during the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Trading Down 12.1%

NASDAQ:CEVA opened at $43.58 on Monday. The firm has a 50-day moving average price of $30.69 and a two-hundred day moving average price of $24.58. Ceva has a twelve month low of $17.02 and a twelve month high of $51.25. The company has a market capitalization of $1.21 billion, a P/E ratio of -96.84 and a beta of 2.00.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The company had revenue of $27.02 million for the quarter, compared to analysts’ expectations of $26.12 million. During the same period last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Ceva will post -0.21 earnings per share for the current year.

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.