Ceva, Inc. (NASDAQ:CEVA) Receives $35.60 Consensus Price Target from Brokerages

Key Points

• Ceva, Inc. has received a consensus rating of "Buy" from five brokerages, indicating strong positive sentiment from analysts.
• The average 1-year price target for Ceva's stock is $35.60, though individual broker reports have suggested targets ranging from $30.00 to $40.00.
• Institutional and hedge fund investors hold 85.37% of Ceva's stock, highlighting significant institutional interest in the company.

Shares of Ceva, Inc. (NASDAQ:CEVA - Get Free Report) have been given an average recommendation of "Buy" by the five ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $35.60.

CEVA has been the topic of a number of analyst reports. Oppenheimer decreased their price target on Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Barclays decreased their price target on Ceva from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price target on shares of Ceva in a research note on Thursday, August 14th.

Ceva Stock Down 1.2%

Shares of NASDAQ CEVA traded down $0.27 during trading hours on Friday, reaching $21.57. 62,559 shares of the stock traded hands, compared to its average volume of 282,289. The company has a market capitalization of $514.97 million, a P/E ratio of -51.33 and a beta of 1.26. Ceva has a 52-week low of $18.31 and a 52-week high of $38.94. The company's 50-day simple moving average is $22.62 and its two-hundred day simple moving average is $24.32.

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

Institutional Investors Weigh In On Ceva

Several hedge funds have recently made changes to their positions in CEVA. ProShare Advisors LLC raised its stake in shares of Ceva by 5.1% in the second 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. Barclays PLC increased its position in Ceva by 2.5% in the fourth quarter. Barclays PLC now owns 42,929 shares of the semiconductor company's stock worth $1,354,000 after buying an additional 1,029 shares in the last quarter. GAMMA Investing LLC increased its position in Ceva by 44.5% in the first quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after buying an additional 1,058 shares in the last quarter. Centaurus Financial Inc. increased its position in Ceva by 5.9% in the fourth quarter. Centaurus Financial Inc. now owns 19,158 shares of the semiconductor company's stock worth $604,000 after buying an additional 1,075 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Ceva by 8.9% in the second quarter. State of Alaska Department of Revenue now owns 14,252 shares of the semiconductor company's stock worth $313,000 after buying an additional 1,160 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

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.