Brokerages Set Ceva, Inc. (NASDAQ:CEVA) PT at $30.29

Ceva, Inc. (NASDAQ:CEVA) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $30.2857.

A number of brokerages recently weighed in on CEVA. TD Cowen began coverage on shares of Ceva in a research note on Friday, March 20th. They set a “buy” rating and a $22.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Ceva in a research report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research report on Wednesday, April 8th. Stifel Nicolaus initiated coverage on shares of Ceva in a research report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of Ceva in a research report on Wednesday, February 18th.

Hedge Funds Weigh In On Ceva

Institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its holdings in shares of Ceva by 77.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 632 shares during the last quarter. State of Wyoming acquired a new position in shares of Ceva during the third quarter worth approximately $39,000. Russell Investments Group Ltd. lifted its holdings in shares of Ceva by 771.8% during the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after buying an additional 2,107 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after buying an additional 2,208 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ceva by 47.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock worth $145,000 after buying an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Stock Performance

CEVA stock opened at $21.47 on Friday. The stock has a market capitalization of $595.79 million, a price-to-earnings ratio of -49.93 and a beta of 1.53. Ceva has a 1 year low of $17.02 and a 1 year high of $30.88. The stock’s fifty day moving average is $20.14 and its two-hundred day moving average is $22.64.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The business had revenue of $31.29 million for the quarter, compared to analysts’ expectations of $31.03 million. During the same period in the previous year, the business earned $0.11 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that Ceva will post -0.12 EPS for the current fiscal year.

About Ceva

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.