CEVA (NASDAQ:CEVA) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of CEVA (NASDAQ:CEVA) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $28.00 price objective on the semiconductor company’s stock.

CEVA has been the subject of several other reports. Oppenheimer boosted their price objective on CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $25.00 in a report on Thursday, August 8th. Finally, StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CEVA has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

CEVA Trading Up 2.3 %

Shares of CEVA stock traded up $0.54 during midday trading on Thursday, reaching $23.87. The company had a trading volume of 7,020 shares, compared to its average volume of 149,403. The company has a market capitalization of $565.48 million, a price-to-earnings ratio of -80.46 and a beta of 1.19. The stock has a fifty day simple moving average of $24.03 and a 200 day simple moving average of $21.42. CEVA has a 1-year low of $16.02 and a 1-year high of $25.74.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. The firm had revenue of $28.44 million during the quarter, compared to analyst estimates of $24.47 million. Sell-side analysts expect that CEVA will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On CEVA

Hedge funds have recently modified their holdings of the business. US Bancorp DE increased its holdings in CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 779 shares during the period. GAMMA Investing LLC increased its stake in shares of CEVA by 338.9% in the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 1,125 shares during the period. Point72 DIFC Ltd bought a new position in shares of CEVA during the second quarter worth about $43,000. nVerses Capital LLC acquired a new position in shares of CEVA in the second quarter worth approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in CEVA in the second quarter valued at approximately $65,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

About CEVA

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.