Ceva (NASDAQ:CEVA) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Ceva, Inc. (NASDAQ:CEVA) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $23.21 and traded as high as $28.47. Ceva shares last traded at $26.64, with a volume of 298,965 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CEVA shares. Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Ceva in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.60.

Ceva Trading Down 6.4%

The business has a 50 day moving average of $25.05 and a two-hundred day moving average of $23.21. The firm has a market cap of $636.16 million, a P/E ratio of -63.43 and a beta of 1.29.

Ceva (NASDAQ:CEVA) last released its earnings results on Monday, August 11th. The semiconductor company reported $0.07 earnings per share (EPS) 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 analyst estimates of $25.33 million. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.Ceva’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. On average, sell-side analysts predict that Ceva, Inc. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Ceva

Several hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Ceva during the 2nd quarter valued at $42,000. AlphaQuest LLC increased its position in shares of Ceva by 123.6% during the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 1,355 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Ceva by 422.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,208 shares during the last quarter. GAMMA Investing LLC grew its position in Ceva by 44.5% during the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 1,058 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Ceva by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock worth $217,000 after buying an additional 479 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

About Ceva

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.