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

Key Points

• Ceva, Inc. (NASDAQ:CEVA) has received a consensus recommendation of "Buy" from five analysts, with an average 12-month price target of $35.60.
• Institutional investors own 85.37% of Ceva's stock, with notable recent acquisitions by FNY Investment Advisers and AlphaQuest LLC.
• Ceva's recent quarterly earnings report showed a 9.8% increase in revenue year-over-year, though it missed EPS estimates, reporting $0.06 per share against an expected $0.07.

Shares of Ceva, Inc. (NASDAQ:CEVA - Get Free Report) have been given a consensus recommendation of "Buy" by the five analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $35.60.

Several analysts recently weighed in on CEVA shares. Barclays dropped their price target on Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Oppenheimer dropped their price target on Ceva from $40.00 to $33.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $40.00 price target on shares of Ceva in a report on Thursday, May 8th.

Hedge Funds Weigh In On Ceva

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in Ceva in the 2nd quarter valued at $42,000. AlphaQuest LLC raised its holdings in Ceva by 123.6% in the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company's stock valued at $54,000 after acquiring an additional 1,355 shares in the last quarter. GAMMA Investing LLC raised its holdings in Ceva by 44.5% in the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 1,058 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Ceva during the 4th quarter worth $129,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Ceva during the 1st quarter worth $225,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Trading Up 4.5%

Shares of NASDAQ CEVA opened at $21.63 on Tuesday. Ceva has a 12 month low of $16.02 and a 12 month high of $38.94. The stock has a 50 day moving average of $21.61 and a 200-day moving average of $25.89. The company has a market capitalization of $517.17 million, a P/E ratio of -77.25 and a beta of 1.25.

Ceva (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $24.25 million for the quarter, compared to analyst estimates of $26.55 million. Ceva had a negative return on equity of 1.75% and a negative net margin of 6.11%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. Analysts predict that Ceva will post -0.12 EPS for the current fiscal year.

About Ceva

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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