Ceva (NASDAQ:CEVA) Shares Gap Up – What’s Next?

Ceva, Inc. (NASDAQ:CEVA) gapped up prior to trading on Monday . The stock had previously closed at $40.42, but opened at $43.42. Ceva shares last traded at $45.6350, with a volume of 119,582 shares changing hands.

Analysts Set New Price Targets

CEVA has been the topic of several research analyst reports. Stifel Nicolaus set a $42.00 price objective on Ceva in a research note on Tuesday, May 12th. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a report on Friday, May 8th. They set a “neutral” rating and a $30.00 target price on the stock. Oppenheimer raised their price target on shares of Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Monday. Finally, TD Cowen boosted their price objective on shares of Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ceva presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Ceva Price Performance

The company has a 50-day simple moving average of $41.08 and a two-hundred day simple moving average of $28.26. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -95.02 and a beta of 1.96.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The business had revenue of $27.02 million during the quarter, compared to analyst estimates of $26.12 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Research analysts anticipate that Ceva, Inc. will post -0.21 EPS for the current year.

Institutional Trading of Ceva

Hedge funds have recently added to or reduced their stakes in the business. Silverberg Bernstein Capital Management LLC lifted its holdings in Ceva by 0.3% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 140,617 shares of the semiconductor company’s stock worth $2,627,000 after purchasing an additional 470 shares during the period. Centaurus Financial Inc. raised its position in shares of Ceva by 2.6% during the 3rd quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after buying an additional 550 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Ceva by 77.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 632 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Ceva by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 674 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Ceva by 0.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 403,756 shares of the semiconductor company’s stock valued at $8,689,000 after acquiring an additional 1,234 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.

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.