Ceva (NASDAQ:CEVA) Earns Outperform Rating from Oppenheimer

Key Points

• Oppenheimer reiterated its Outperform rating on Ceva but lowered its price target from $38 to $35, implying 46.5% upside from the prior close.
• Ceva’s latest quarterly results missed expectations: EPS was $0.13 versus $0.19 forecast, and revenue was $29.06 million versus $32.71 million expected.
• The company forecast fourth-quarter revenue of $34 million to $38 million, citing higher smartphone modem royalties; analysts’ consensus rating remains “Moderate Buy,” with a $36.20 price target.

Ceva (NASDAQ:CEVA - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Oppenheimer in a report issued on Tuesday, Benzinga reports. They presently have a $35.00 price objective on the semiconductor company's stock, down from their prior price objective of $38.00. Oppenheimer's price objective suggests a potential upside of 46.50% from the stock's previous close.

A number of other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ceva in a report on Friday, October 2nd. Wall Street Zen cut Ceva from a "buy" rating to a "hold" rating in a research note on Sunday. Rosenblatt Securities upped their price objective on Ceva from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. TD Cowen lowered 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. Finally, UBS Group cut their price objective on shares of Ceva from $48.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ceva currently has an average rating of "Moderate Buy" and a consensus price target of $36.20.

Ceva Stock Down 3.8%

Ceva stock traded down $0.95 during mid-day trading on Tuesday, reaching $23.89. 202,104 shares of the company's stock traded hands, compared to its average volume of 643,317. The company has a market cap of $672.50 million, a price-to-earnings ratio of -59.84 and a beta of 1.98. The stock has a 50 day moving average of $30.44 and a two-hundred day moving average of $30.61. Ceva has a 12-month low of $17.02 and a 12-month high of $51.60.

Ceva (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The business had revenue of $29.06 million for the quarter, compared to the consensus estimate of $32.71 million. During the same quarter last year, the business earned $0.11 EPS. Ceva's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Ceva will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Ceva

Several hedge funds have recently bought and sold shares of the business. Aberdeen Group plc bought a new position in Ceva in the third quarter worth approximately $8,545,000. William Blair Investment Management LLC purchased a new position in Ceva during the 3rd quarter worth $24,975,000. Russell Investments Group Ltd. raised its position in Ceva by 129.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 19,800 shares of the semiconductor company's stock valued at $696,000 after purchasing an additional 11,172 shares in the last quarter. Moody Aldrich Partners LLC raised its position in Ceva by 59.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 121,324 shares of the semiconductor company's stock valued at $4,286,000 after purchasing an additional 45,138 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in Ceva by 492.6% during the 3rd quarter. Sterling Capital Management LLC now owns 877 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 729 shares in the last quarter. Institutional investors own 85.37% of the company's stock.

More Ceva News

Here are the key news stories impacting Ceva this week:

• Positive Sentiment: Ceva forecast Q4 revenue of $34 million to $38 million, citing higher smartphone modem royalties. That would be above Q3 revenue of $29.06 million. Article: Ceva expects Q4 revenue of $34M-$38M as smartphone modem royalties step up
• Positive Sentiment: The company reported 18% sequential growth in royalty revenue and record AI licensing revenue, potential signs of strengthening demand for its IP. Article: Ceva, Inc. Announces Third Quarter 2026 Financial Results
• Neutral Sentiment: Stifel Nicolaus and Needham cut their price targets to $40 and $30, respectively, but both maintained Buy ratings. The reductions temper their outlook, while the retained ratings signal continued optimism. Stifel price target update Needham price target update
• Negative Sentiment: Q3 results fell short of expectations: EPS was $0.13 versus consensus of about $0.19, and revenue of $29.06 million missed estimates of roughly $32.7 million. Revenue was up only 2.4% year over year, making the quarterly shortfall a likely source of selling pressure. Article: Ceva Lags Q3 Earnings and Revenue Estimates

About Ceva

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.

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