Ceva’s (CEVA) Outperform Rating Reiterated at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Ceva (NASDAQ:CEVA) in a research note published on Tuesday,Benzinga reports. Oppenheimer currently has a $35.00 target price on the semiconductor company’s stock, down from their previous target price of $38.00.

A number of other brokerages have also weighed in on CEVA. UBS Group dropped their price objective on Ceva from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Rosenblatt Securities raised their target price on Ceva from $45.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Needham & Company LLC decreased their target price on shares of Ceva from $43.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research note on Friday, October 2nd. Finally, Wall Street Zen cut shares of Ceva from a “buy” rating to a “hold” rating in a research note on Sunday, November 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ceva presently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Ceva Trading Down 2.3%

NASDAQ CEVA opened at $26.32 on Tuesday. The business’s 50 day moving average is $30.40 and its two-hundred day moving average is $30.65. Ceva has a 12-month low of $17.02 and a 12-month high of $51.60.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings results on Monday, November 9th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Ceva had a negative net margin of 9.25% and a negative return on equity of 2.70%. The business had revenue of $29.06 million during the quarter, compared to analyst estimates of $32.71 million. During the same period in the prior year, the business earned $0.11 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that Ceva will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its stake in Ceva by 202.0% in the 2nd quarter. Tidal Investments LLC now owns 58,121 shares of the semiconductor company’s stock valued at $2,741,000 after buying an additional 38,876 shares in the last quarter. Bank of America Corp DE purchased a new position in Ceva during the second quarter worth $4,482,000. Hsbc Holdings PLC purchased a new position in Ceva during the fourth quarter worth $777,000. BlackRock Inc. acquired a new position in shares of Ceva in the second quarter worth $113,995,000. Finally, Deutsche Bank AG acquired a new position in shares of Ceva in the second quarter worth $33,941,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

About Ceva

CEVA, Inc. develops and licenses semiconductor intellectual property and software for connected and intelligent devices. Rather than manufacturing chips, the company provides technology that semiconductor companies and other customers can incorporate into their own products. Its portfolio includes digital signal processors and platforms for wireless connectivity, including cellular, Wi-Fi, Bluetooth and ultra-wideband, as well as technologies for audio, imaging, computer vision, sensor processing and edge artificial intelligence.