Ceva (NASDAQ:CEVA) Earns Buy Rating from Analysts at UBS Group

Equities researchers at UBS Group initiated coverage on shares of Ceva (NASDAQ:CEVA) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $27.00 price target on the semiconductor company’s stock. UBS Group’s target price suggests a potential upside of 34.13% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Oppenheimer restated an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Barclays upped their target price on Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research note on Friday, January 9th. Loop Capital began coverage on shares of Ceva in a report on Monday, December 1st. They issued a “buy” rating and a $28.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ceva in a report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.67.

Ceva Trading Up 7.3%

Shares of NASDAQ:CEVA opened at $20.13 on Wednesday. Ceva has a 12-month low of $18.23 and a 12-month high of $38.94. The business has a 50 day moving average of $21.96 and a two-hundred day moving average of $23.65. The company has a market capitalization of $483.52 million, a PE ratio of -46.81 and a beta of 1.50.

Ceva (NASDAQ:CEVA) last posted its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The firm had revenue of $31.29 million during the quarter, compared to analyst estimates of $31.03 million. During the same period in the previous year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts predict that Ceva will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Ceva

Large investors have recently bought and sold shares of the business. Senvest Management LLC lifted its stake in Ceva by 8.0% in the 4th quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company’s stock worth $51,380,000 after purchasing an additional 177,765 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Ceva by 44.1% in the 4th quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock valued at $21,505,000 after buying an additional 305,540 shares in the last quarter. AWM Investment Company Inc. increased its stake in shares of Ceva by 24.1% in the 4th quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock worth $17,814,000 after acquiring an additional 160,644 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Ceva by 92.6% during the 4th quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock worth $14,730,000 after acquiring an additional 329,047 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Ceva by 24.0% during the 2nd quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock valued at $14,346,000 after acquiring an additional 126,267 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Company Profile

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.