Ceva (NASDAQ:CEVA) Sets New 52-Week Low – Here’s What Happened

Ceva, Inc. (NASDAQ:CEVA)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $17.02 and last traded at $17.21, with a volume of 374498 shares changing hands. The stock had previously closed at $18.22.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $30.00 price objective (down from $33.00) on shares of Ceva in a research report on Wednesday, February 18th. TD Cowen assumed coverage on Ceva in a research note on Friday, March 20th. They issued a “buy” rating and a $22.00 target price for the company. UBS Group started coverage on Ceva in a report on Wednesday, February 25th. They set a “buy” rating and a $27.00 price target on the stock. Loop Capital assumed coverage on shares of Ceva in a research report on Monday, December 1st. They set a “buy” rating and a $28.00 price target on the stock. Finally, Stifel Nicolaus started coverage on shares of Ceva in a report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ceva currently has an average rating of “Moderate Buy” and a consensus target price of $30.29.

Ceva Price Performance

The stock has a market capitalization of $477.58 million, a price-to-earnings ratio of -40.02 and a beta of 1.49. The business has a fifty day moving average of $20.63 and a 200 day moving average of $23.07.

Ceva (NASDAQ:CEVA) last posted its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $31.29 million during the quarter, compared to analysts’ expectations of $31.03 million. During the same quarter last year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Ceva, Inc. will post -0.12 EPS for the current year.

Institutional Trading of Ceva

A number of hedge funds and other institutional investors have recently modified their holdings of CEVA. Hantz Financial Services Inc. increased its position in shares of Ceva by 77.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 632 shares during the last quarter. State of Wyoming purchased a new stake in Ceva in the third quarter valued at approximately $39,000. Tower Research Capital LLC TRC lifted its stake in 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. Russell Investments Group Ltd. lifted its stake in Ceva by 771.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after acquiring an additional 2,107 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ceva by 47.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 2,172 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

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.