Ceva (NASDAQ:CEVA) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Ceva (NASDAQ:CEVA) had its price objective cut by JPMorgan Chase & Co. from $45.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other research analysts also recently weighed in on CEVA. Benchmark upgraded shares of Ceva from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 target price (down from $38.00) on shares of Ceva in a research report on Tuesday. Wall Street Zen lowered shares of Ceva from a “buy” rating to a “hold” rating in a research note on Sunday, November 8th. Needham & Company LLC decreased their target price on shares of Ceva from $43.00 to $30.00 and set a “buy” rating for the company in a research note on Monday. Finally, TD Cowen lowered their price target on Ceva from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.33.

Ceva Stock Performance

CEVA opened at $26.32 on Tuesday. The company’s 50-day simple moving average is $30.40 and its two-hundred day simple moving average is $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 results on Monday, November 9th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Ceva had a negative return on equity of 2.70% and a negative net margin of 9.25%. The company had revenue of $29.06 million during the quarter, compared to the consensus estimate of $32.71 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Ceva will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CEVA. Sterling Capital Management LLC increased its stake in shares of Ceva by 492.6% in the 3rd quarter. Sterling Capital Management LLC now owns 877 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 729 shares in the last quarter. Global Retirement Partners LLC bought a new position in Ceva in the 2nd quarter worth $49,000. Integrated Wealth Concepts LLC purchased a new position in Ceva during the second quarter valued at $52,000. State of Alaska Department of Revenue purchased a new position in Ceva during the third quarter valued at $62,000. Finally, SBI Securities Co. Ltd. lifted its position in Ceva by 771.7% during the third quarter. SBI Securities Co. Ltd. now owns 1,970 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 1,744 shares in the last quarter. 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.