Loop Capital Initiates Coverage on Ceva (NASDAQ:CEVA)

Research analysts at Loop Capital began coverage on shares of Ceva (NASDAQ:CEVA) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $28.00 price target on the semiconductor company’s stock. Loop Capital’s price target points to a potential upside of 30.78% from the stock’s current price.

Other analysts also recently issued reports about the stock. Barclays boosted their price target on shares of Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Tuesday, October 14th. Finally, Rosenblatt Securities restated a “buy” rating and set a $40.00 target price on shares of Ceva in a report on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ceva currently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Ceva Stock Up 0.6%

Shares of Ceva stock traded up $0.13 during trading on Monday, hitting $21.41. 208,692 shares of the stock traded hands, compared to its average volume of 322,445. The firm’s fifty day moving average is $25.70 and its 200-day moving average is $23.42. The stock has a market cap of $514.27 million, a price-to-earnings ratio of -46.41 and a beta of 1.46. Ceva has a 52 week low of $18.23 and a 52 week high of $38.94.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings results on Monday, November 10th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $28.38 million for the quarter, compared to the consensus estimate of $28.04 million. Ceva had a negative net margin of 10.49% and a negative return on equity of 3.54%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, analysts forecast that Ceva will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Ceva

A number of hedge funds have recently modified their holdings of CEVA. State of Wyoming bought a new position in shares of Ceva in the 3rd quarter worth about $39,000. FNY Investment Advisers LLC bought a new position in shares of Ceva during the second quarter valued at approximately $42,000. AlphaQuest LLC lifted its holdings in shares of Ceva by 123.6% during the second 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 boosted its position in shares of Ceva by 422.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 2,208 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Ceva by 771.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 2,107 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.

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.