Ceva (NASDAQ:CEVA) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Ceva from “buy” to “hold,” although analysts overall maintain a “Moderate Buy” consensus with a $40.60 average price target.
• Ceva reported quarterly EPS of $0.08, topping estimates by $0.01, while revenue reached $29.03 million, up 13% year over year; analysts expect a full-year loss of $0.17 per share.
• Shares opened at $33.49, with a market capitalization of approximately $943 million, while institutional investors own 85.37% of the company’s stock.

Ceva (NASDAQ:CEVA - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also recently commented on CEVA. Oppenheimer lowered their price target on Ceva from $42.00 to $38.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Needham & Company LLC reduced their price objective on Ceva from $55.00 to $43.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Benchmark upgraded Ceva from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 14th. Stifel Nicolaus boosted their target price on Ceva from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Ceva in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.60.

Ceva Trading Down 0.5%

NASDAQ CEVA opened at $33.49 on Friday. The firm's 50 day simple moving average is $31.19 and its 200 day simple moving average is $33.83. The firm has a market capitalization of $942.74 million, a price-to-earnings ratio of -83.72 and a beta of 1.93. Ceva has a 1 year low of $17.02 and a 1 year high of $51.60.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $29.03 million during the quarter, compared to the consensus estimate of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The company's revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 earnings per share. On average, equities research analysts forecast that Ceva will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Ceva

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Ceva in the second quarter valued at about $113,995,000. AWM Investment Company Inc. acquired a new position in Ceva during the 2nd quarter worth about $37,719,000. Deutsche Bank AG acquired a new position in Ceva during the 2nd quarter worth about $33,941,000. Oaktop Capital Management II L.P. bought a new stake in shares of Ceva in the 2nd quarter valued at about $21,051,000. Finally, Rice Hall James & Associates LLC increased its stake 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 buying an additional 1,234 shares during the period. Institutional investors own 85.37% of the company's stock.

About Ceva

CEVA, Inc is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and sensing technologies. Its products are designed for integration into system-on-chip devices used in mobile, consumer, automotive, industrial and Internet of Things applications.

The company's portfolio includes digital signal processors and specialized processor architectures for artificial intelligence, computer vision, audio, imaging and communications. CEVA also offers intellectual property for wireless technologies such as 5G, Wi-Fi, Bluetooth and ultra-wideband, as well as platforms supporting sensor fusion and edge computing.

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