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

Key Points

• Ceva, Inc. has an average analyst rating of “Moderate Buy” from 12 covering firms, with nine buy ratings, two holds, and one sell. The average 1-year price target is $42.80.
• Recent analyst actions were mostly positive, including Needham starting coverage with a $55 target, while UBS, Oppenheimer, and Rosenblatt all raised their price targets and maintained bullish ratings. Weiss Ratings remained an outlier with a sell rating.
• Ceva reported better-than-expected quarterly results, posting $0.04 EPS versus $0.02 expected and revenue of $27.02 million versus $26.12 million expected, with revenue up 11.6% year over year. Despite that, the company still posted negative margins and analysts expect a full-year EPS loss.

Shares of Ceva, Inc. (NASDAQ:CEVA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $42.80.

Several analysts have issued reports on CEVA shares. Needham & Company LLC began coverage on shares of Ceva in a research report on Monday, June 15th. They issued a "buy" rating and a $55.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ceva in a report on Monday, July 6th. UBS Group lifted their price target on shares of Ceva from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Oppenheimer upped their price objective on shares of Ceva from $30.00 to $42.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. Finally, Rosenblatt Securities raised their target price on Ceva from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th.

Ceva Price Performance

Shares of NASDAQ CEVA opened at $37.33 on Tuesday. Ceva has a 1-year low of $17.02 and a 1-year high of $51.60. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -82.96 and a beta of 1.96. The business has a 50-day moving average of $42.95 and a 200-day moving average of $29.56.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The company's revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. Research analysts expect that Ceva will post -0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceva

Hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in shares of Ceva by 2,735.2% during the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company's stock valued at $12,817,000 after buying an additional 574,592 shares during the last quarter. Defiance ETFs LLC bought a new stake in shares of Ceva in the fourth quarter worth $10,420,000. Handelsbanken Fonder AB increased its stake in shares of Ceva by 92.6% in the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company's stock worth $14,730,000 after buying an additional 329,047 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Ceva by 44.1% in the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company's stock valued at $21,505,000 after acquiring an additional 305,540 shares in the last quarter. Finally, HRT Financial LP acquired a new stake in Ceva in the fourth quarter valued at $5,182,000. Institutional investors and hedge funds 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.

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