Ceva, Inc. (NASDAQ:CEVA) Receives $35.60 Average Target Price from Brokerages

Ceva, Inc. (NASDAQ:CEVA) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $35.60.

Separately, Rosenblatt Securities restated a “buy” rating and issued a $40.00 price objective on shares of Ceva in a research report on Thursday, August 14th.

Ceva Stock Down 0.3%

Shares of CEVA opened at $26.30 on Wednesday. The business’s 50-day moving average price is $23.31 and its 200-day moving average price is $23.15. The stock has a market cap of $628.04 million, a PE ratio of -62.62 and a beta of 1.26. Ceva has a twelve month low of $18.31 and a twelve month high of $38.94.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $25.68 million for the quarter, compared to analysts’ expectations of $25.33 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. Ceva’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. Analysts expect that Ceva will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Ceva by 13.0% in the first quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company’s stock worth $62,657,000 after purchasing an additional 281,274 shares during the last quarter. Senvest Management LLC boosted its stake in Ceva by 8.4% in the second quarter. Senvest Management LLC now owns 2,151,632 shares of the semiconductor company’s stock worth $47,293,000 after buying an additional 166,425 shares in the last quarter. AWM Investment Company Inc. boosted its stake in Ceva by 8.5% in the second quarter. AWM Investment Company Inc. now owns 667,162 shares of the semiconductor company’s stock worth $14,664,000 after buying an additional 52,000 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Ceva by 24.0% in the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock worth $14,346,000 after buying an additional 126,267 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Ceva by 40.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after buying an additional 179,098 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

Ceva Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.