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

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

Several other research firms have also weighed in on CEVA. Needham & Company LLC dropped their price objective 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. Benchmark upgraded Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Rosenblatt Securities boosted their target price on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. TD Cowen reduced their target price on shares of Ceva from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

Ceva Price Performance

NASDAQ:CEVA opened at $29.52 on Friday. The firm’s fifty day moving average price is $30.50 and its 200 day moving average price is $30.49. Ceva has a 1-year low of $17.02 and a 1-year high of $51.60. The firm has a market cap of $830.99 million, a price-to-earnings ratio of -73.80 and a beta of 1.98.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $29.03 million for 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. As a group, analysts expect that Ceva will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceva

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Ceva in the 2nd quarter valued at $113,995,000. AWM Investment Company Inc. bought a new position in Ceva in the second quarter worth approximately $37,719,000. Deutsche Bank AG acquired a new stake in shares of Ceva in the second quarter valued at about $33,941,000. Oaktop Capital Management II L.P. acquired a new stake in Ceva in the second quarter valued at approximately $21,051,000. Finally, Rice Hall James & Associates LLC boosted its position in Ceva by 3.9% during the first quarter. Rice Hall James & Associates LLC now owns 419,388 shares of the semiconductor company’s stock worth $7,834,000 after purchasing an additional 15,632 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.

About Ceva

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.