Ceva, Inc. (NASDAQ:CEVA) Stock Has Consensus Price Target of $39.60

Shares of Ceva, Inc. (NASDAQ:CEVA) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $38.80.

A number of equities research analysts have recently commented on the stock. Benchmark raised shares of Ceva from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research report on Friday, October 2nd. Needham & Company LLC reduced their target price on Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Rosenblatt Securities upped their price target on Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, UBS Group cut their target price on shares of Ceva from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in Ceva by 492.6% in the third quarter. Sterling Capital Management LLC now owns 877 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 729 shares during the period. Global Retirement Partners LLC acquired a new stake in Ceva during the second quarter valued at $49,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Ceva in the 2nd quarter valued at $52,000. State of Alaska Department of Revenue acquired a new position in Ceva in the 3rd quarter valued at $62,000. Finally, SBI Securities Co. Ltd. raised its stake in Ceva by 771.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,970 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 1,744 shares during the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Stock Performance

Shares of CEVA stock opened at $28.10 on Thursday. The company has a 50 day moving average price of $30.50 and a 200 day moving average price of $30.51. Ceva has a fifty-two week low of $17.02 and a fifty-two week high of $51.60.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The business had revenue of $29.03 million for the quarter, compared to the consensus estimate of $28.19 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts predict that Ceva will post -0.17 earnings per share for the current year.

Ceva Company Profile

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.