Ceva, Inc. (NASDAQ:CEVA) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Ceva, Inc. has received a consensus recommendation of "Moderate Buy" from six brokerages, with five analysts rating it as a buy and one as a sell. The average 12-month target price is $35.60.
• Institutional investors own approximately 85.37% of Ceva's stock, with several hedge funds increasing their holdings in the company recently.
• Ceva reported an earnings per share (EPS) of $0.07 for the last quarter, beating expectations but showing a 9.5% decrease in quarterly revenue year-over-year.

Shares of Ceva, Inc. (NASDAQ:CEVA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.60.

CEVA has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ceva in a report on Tuesday, October 14th. Rosenblatt Securities restated a "buy" rating and set a $40.00 price target on shares of Ceva in a report on Thursday, August 14th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its holdings in Ceva by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company's stock worth $217,000 after purchasing an additional 479 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ceva by 44.5% during the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after purchasing an additional 1,058 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Ceva by 8.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,252 shares of the semiconductor company's stock worth $313,000 after purchasing an additional 1,160 shares during the last quarter. AlphaQuest LLC raised its holdings in Ceva by 123.6% during the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in Ceva by 6.0% during the 2nd quarter. Prudential Financial Inc. now owns 25,241 shares of the semiconductor company's stock worth $555,000 after purchasing an additional 1,418 shares during the last quarter. Institutional investors own 85.37% of the company's stock.

Ceva Price Performance

Shares of NASDAQ CEVA opened at $26.64 on Friday. The company has a 50 day simple moving average of $25.05 and a 200 day simple moving average of $23.19. The firm has a market cap of $636.16 million, a PE ratio of -63.43 and a beta of 1.29. Ceva has a 1 year low of $18.31 and a 1 year high of $38.94.

Ceva (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The business had revenue of $25.68 million during the quarter, compared to analyst estimates of $25.33 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. The firm's quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 EPS. As a group, research analysts anticipate that Ceva will post -0.12 earnings per share for the current fiscal year.

Ceva Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 - 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.

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