Ceva, Inc. (NASDAQ:CEVA) Receives $35.60 Consensus PT from Analysts

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 ratings firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $35.60.

Several equities analysts have issued reports on CEVA shares. Barclays cut their price target on shares of Ceva from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Rosenblatt Securities restated a "buy" rating and set a $40.00 price objective on shares of Ceva in a research note on Thursday, May 8th. Finally, Oppenheimer lowered their target price on Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th.

Hedge Funds Weigh In On Ceva

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Ceva by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 562,133 shares of the semiconductor company's stock worth $12,357,000 after purchasing an additional 3,369 shares during the last quarter. ProShare Advisors LLC raised its holdings in Ceva by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company's stock valued at $217,000 after buying an additional 479 shares during the period. Acadian Asset Management LLC lifted its stake in Ceva by 24.0% during the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company's stock worth $14,346,000 after purchasing an additional 126,267 shares in the last quarter. AlphaQuest LLC increased its stake 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 buying an additional 1,355 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in Ceva in the second quarter worth approximately $42,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

Ceva Stock Up 1.8%

NASDAQ:CEVA traded up $0.38 during mid-day trading on Tuesday, reaching $21.56. The company's stock had a trading volume of 103,694 shares, compared to its average volume of 277,974. The stock has a fifty day moving average of $21.79 and a 200-day moving average of $25.65. Ceva has a 1 year low of $18.31 and a 1 year high of $38.94. The firm has a market capitalization of $515.38 million, a PE ratio of -76.93 and a beta of 1.25.

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