Ceva (NASDAQ:CEVA) Shares Gap Up – Still a Buy?

Ceva, Inc. (NASDAQ:CEVA)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $32.53, but opened at $34.69. Ceva shares last traded at $33.3450, with a volume of 197,696 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ceva in a research note on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. TD Cowen began coverage on Ceva in a research report on Friday, March 20th. They set a “buy” rating and a $22.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Finally, UBS Group boosted their price objective on Ceva from $27.00 to $42.00 and gave the company a “buy” rating in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

Ceva Price Performance

The company has a market capitalization of $939.44 million, a P/E ratio of -78.42 and a beta of 1.94. The company has a 50 day moving average of $21.87 and a 200-day moving average of $22.53.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $31.29 million during the quarter, compared to analysts’ expectations of $31.03 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. Research analysts predict that Ceva, Inc. will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Silverberg Bernstein Capital Management LLC lifted its position in shares of Ceva by 0.3% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 140,617 shares of the semiconductor company’s stock worth $2,627,000 after purchasing an additional 470 shares during the period. Centaurus Financial Inc. increased its position in shares of Ceva by 2.6% during the third quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock valued at $579,000 after buying an additional 550 shares during the period. Hantz Financial Services Inc. raised its stake in Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after buying an additional 632 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Ceva by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock worth $220,000 after buying an additional 674 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ceva by 4.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,465 shares of the semiconductor company’s stock worth $514,000 after buying an additional 775 shares during the period. 85.37% of the stock is currently owned by institutional investors.

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.