TD Cowen Issues Pessimistic Forecast for Ceva (NASDAQ:CEVA) Stock Price

Ceva (NASDAQ:CEVA) had its target price dropped by stock analysts at TD Cowen from $45.00 to $35.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price would suggest a potential upside of 21.61% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Benchmark upgraded Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Oppenheimer lowered their price target on Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Needham & Company LLC dropped their price target on shares of Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Rosenblatt Securities increased their price target on shares of Ceva from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus raised their price objective on shares of Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.60.

Ceva Price Performance

Shares of NASDAQ CEVA opened at $28.78 on Monday. The company has a market capitalization of $810.16 million, a price-to-earnings ratio of -71.95 and a beta of 1.93. The business has a 50-day moving average of $30.54 and a two-hundred day moving average of $34.40. Ceva has a 1 year low of $17.02 and a 1 year high of $51.60.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The business had revenue of $29.03 million during the quarter, compared to analysts’ expectations of $28.19 million. During the same period in the prior year, the firm posted $0.07 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts expect that Ceva will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Ceva

Several large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in shares of Ceva during the second quarter worth about $49,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ceva in the 2nd quarter valued at about $52,000. State of Alaska Department of Revenue acquired a new stake in shares of Ceva in the 3rd quarter valued at about $62,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Ceva in the 2nd quarter valued at about $343,000. Finally, Arizona State Retirement System purchased a new position in Ceva during the 2nd quarter worth approximately $352,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Company Profile

CEVA, Inc is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and sensing technologies. Its products are designed for integration into system-on-chip devices used in mobile, consumer, automotive, industrial and Internet of Things applications.

The company’s portfolio includes digital signal processors and specialized processor architectures for artificial intelligence, computer vision, audio, imaging and communications. CEVA also offers intellectual property for wireless technologies such as 5G, Wi-Fi, Bluetooth and ultra-wideband, as well as platforms supporting sensor fusion and edge computing.