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

Shares of CEVA, Inc. (NASDAQ:CEVA) have been assigned a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $36.60.

A number of analysts have recently commented on the stock. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price objective on shares of CEVA in a research note on Tuesday, February 11th. Barclays upped their price objective on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday. Roth Mkm upped their price objective on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Northland Securities upped their price objective on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd.

CEVA Stock Down 0.8 %

CEVA stock opened at $34.67 on Tuesday. The stock has a market capitalization of $819.25 million, a P/E ratio of -247.63 and a beta of 1.25. The firm has a 50-day simple moving average of $32.58 and a 200-day simple moving average of $27.43. CEVA has a 52 week low of $16.02 and a 52 week high of $37.75.

CEVA (NASDAQ:CEVA) last released its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.69% and a negative net margin of 3.22%. On average, analysts expect that CEVA will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On CEVA

Several institutional investors and hedge funds have recently bought and sold shares of CEVA. Cubist Systematic Strategies LLC acquired a new position in CEVA in the 2nd quarter valued at about $330,000. SG Americas Securities LLC acquired a new position in CEVA in the 3rd quarter valued at about $296,000. GAMMA Investing LLC boosted its holdings in CEVA by 338.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 1,125 shares during the last quarter. Creative Planning acquired a new position in CEVA in the 3rd quarter valued at about $503,000. Finally, US Bancorp DE boosted its holdings in CEVA by 125.8% in the 3rd 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 last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

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.