Ceva (NASDAQ:CEVA) Given New $50.00 Price Target at Stifel Nicolaus

Ceva (NASDAQ:CEVA) had its price objective lifted by equities researchers at Stifel Nicolaus from $42.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 6.81% from the stock’s previous close.

Several other research analysts have also recently issued reports on CEVA. JPMorgan Chase & Co. initiated coverage on shares of Ceva in a report on Friday, May 8th. They issued a “neutral” rating and a $30.00 target price for the company. Oppenheimer boosted their price target on shares of Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Needham & Company LLC started coverage on shares of Ceva in a research note on Monday, June 15th. They issued a “buy” rating and a $55.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Monday. Finally, Roth Capital reiterated a “buy” rating and set a $40.00 target price on shares of Ceva in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.80.

Ceva Stock Up 5.0%

CEVA stock opened at $46.81 on Friday. The business has a 50 day moving average price of $41.87 and a 200 day moving average price of $28.61. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -104.02 and a beta of 1.96. Ceva has a fifty-two week low of $17.02 and a fifty-two week high of $51.60.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, beating 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 analyst estimates of $26.12 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Ceva will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Ceva

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of Ceva by 2,735.2% during the fourth quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after buying an additional 574,592 shares during the last quarter. Defiance ETFs LLC purchased a new stake in Ceva during the 4th quarter valued at approximately $10,420,000. Handelsbanken Fonder AB lifted its position in Ceva by 92.6% during the 4th 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 period. Neuberger Berman Group LLC lifted its position in Ceva by 44.1% during the 4th 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 period. Finally, HRT Financial LP purchased a new position in shares of Ceva in the 4th quarter valued at approximately $5,182,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

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.