Ceva (NASDAQ:CEVA) Stock Rating Upgraded by Wall Street Zen

Ceva (NASDAQ:CEVA) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

CEVA has been the subject of several other reports. TD Cowen dropped their price objective on Ceva from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. JPMorgan Chase & Co. began coverage on shares of Ceva in a research note on Friday, May 8th. They issued a “neutral” rating and a $30.00 price objective on the stock. Needham & Company LLC lowered their target price on shares of Ceva from $55.00 to $43.00 and set a “buy” rating for the company in a report on Monday, August 10th. Benchmark restated a “hold” rating on shares of Ceva in a research report on Tuesday, August 11th. Finally, Rosenblatt Securities lifted their price objective on Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.60.

Ceva Stock Performance

Shares of NASDAQ:CEVA opened at $33.28 on Friday. The company has a market cap of $936.83 million, a P/E ratio of -83.20 and a beta of 1.99. The stock’s 50-day moving average is $40.42 and its 200-day moving average is $31.11. Ceva has a 52-week low of $17.02 and a 52-week high of $51.60.

Ceva (NASDAQ:CEVA) last issued its earnings results on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $29.03 million during the quarter, compared to analyst estimates of $28.19 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.Ceva’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, equities analysts predict that Ceva will post -0.2 EPS for the current year.

Institutional Trading of Ceva

Several institutional investors and hedge funds have recently bought and sold shares of CEVA. BlackRock Inc. acquired a new stake in Ceva during the 2nd quarter valued at $113,995,000. Senvest Management LLC lifted 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 buying an additional 177,765 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of 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 buying an additional 305,540 shares during the period. AWM Investment Company Inc. boosted its holdings in shares of Ceva by 24.1% during the 4th quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock worth $17,814,000 after buying an additional 160,644 shares during the period. Finally, Deutsche Bank AG bought a new position in Ceva in the 2nd quarter valued at about $33,941,000. Institutional investors own 85.37% of the company’s stock.

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.