Ceva (NASDAQ:CEVA) Stock Gets Price Target Reduction from Stifel Nicolaus

Ceva (NASDAQ:CEVA) had its price target decreased by Stifel Nicolaus from $50.00 to $40.00 in a report published on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

CEVA has been the subject of several other reports. Oppenheimer lowered their target price on Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Benchmark raised Ceva from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. TD Cowen decreased their price objective on Ceva from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Needham & Company LLC decreased their price objective on Ceva from $43.00 to $30.00 and set a “buy” rating for the company in a research note on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Ceva Stock Performance

NASDAQ:CEVA opened at $26.32 on Tuesday. The company has a fifty day simple moving average of $30.40 and a two-hundred day simple moving average of $30.65. Ceva has a 52 week low of $17.02 and a 52 week high of $51.60.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data on Monday, November 9th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $29.06 million during the quarter, compared to analyst estimates of $32.71 million. Ceva had a negative net margin of 9.25% and a negative return on equity of 2.70%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 earnings per share. Equities analysts expect that Ceva will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Ceva

Several large investors have recently bought and sold shares of CEVA. BlackRock Inc. acquired a new stake in Ceva in the second quarter valued at $113,995,000. AWM Investment Company Inc. purchased a new stake in Ceva during the 2nd quarter worth about $37,719,000. Deutsche Bank AG purchased a new stake in Ceva during the 2nd quarter worth about $33,941,000. William Blair Investment Management LLC acquired a new position in shares of Ceva during the 3rd quarter worth about $24,975,000. Finally, Oaktop Capital Management II L.P. acquired a new position in shares of Ceva during the 2nd quarter worth about $21,051,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Company Profile

CEVA, Inc. develops and licenses semiconductor intellectual property and software for connected and intelligent devices. Rather than manufacturing chips, the company provides technology that semiconductor companies and other customers can incorporate into their own products. Its portfolio includes digital signal processors and platforms for wireless connectivity, including cellular, Wi-Fi, Bluetooth and ultra-wideband, as well as technologies for audio, imaging, computer vision, sensor processing and edge artificial intelligence.