Ceva, Inc. (NASDAQ:CEVA) Receives Average Rating of “Moderate Buy” from Brokerages

Ceva, Inc. (NASDAQ:CEVA) has been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $34.20.

A number of research analysts have recently issued reports on the stock. Loop Capital assumed coverage on shares of Ceva in a report on Monday, December 1st. They set a “buy” rating and a $28.00 price objective for the company. Barclays lifted their price target on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Ceva in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Tuesday, October 14th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Ceva by 13.0% in the 1st 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ceva by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 231,369 shares of the semiconductor company’s stock worth $5,925,000 after buying an additional 4,624 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Ceva by 24.4% in the first quarter. Deutsche Bank AG now owns 147,493 shares of the semiconductor company’s stock valued at $3,777,000 after acquiring an additional 28,939 shares in the last quarter. Invesco Ltd. increased its position in shares of Ceva by 75.8% during the first quarter. Invesco Ltd. now owns 148,459 shares of the semiconductor company’s stock valued at $3,802,000 after acquiring an additional 64,033 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Ceva during the first quarter worth $1,620,000. 85.37% of the stock is owned by institutional investors.

Ceva Stock Performance

Shares of Ceva stock opened at $21.83 on Monday. The stock has a market capitalization of $524.31 million, a PE ratio of -47.46 and a beta of 1.46. Ceva has a 52 week low of $18.23 and a 52 week high of $38.94. The stock has a 50 day moving average price of $25.03 and a two-hundred day moving average price of $23.52.

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

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.