CEVA, Inc. (NASDAQ:CEVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of CEVA, Inc. (NASDAQ:CEVA) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $27.00.

Separately, Roth Mkm reduced their price objective on shares of CEVA from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th.

CEVA Price Performance

CEVA stock opened at $18.71 on Friday. The company has a 50 day simple moving average of $19.80 and a 200 day simple moving average of $21.14. The stock has a market cap of $441.18 million, a price-to-earnings ratio of -35.30 and a beta of 1.15. CEVA has a 1 year low of $16.38 and a 1 year high of $27.65.

CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, May 9th. The semiconductor company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). CEVA had a negative return on equity of 5.70% and a negative net margin of 12.91%. The business had revenue of $22.07 million for the quarter, compared to the consensus estimate of $23.06 million. On average, equities research analysts anticipate that CEVA will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Louis Silver sold 3,934 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $20.72, for a total value of $81,512.48. Following the completion of the sale, the director now owns 40,576 shares in the company, valued at $840,734.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of CEVA

A number of large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new stake in CEVA during the first quarter worth about $423,000. CANADA LIFE ASSURANCE Co boosted its position in CEVA by 1,693.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock worth $7,284,000 after purchasing an additional 303,673 shares during the period. Acadian Asset Management LLC boosted its position in CEVA by 67.9% during the first quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock worth $11,887,000 after purchasing an additional 211,697 shares during the period. Vanguard Group Inc. boosted its position in CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after purchasing an additional 62,734 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new position in CEVA during the first quarter worth about $245,000. Hedge funds and other 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.