Brokerages Set CEVA, Inc. (NASDAQ:CEVA) PT at $35.60

CEVA, Inc. (NASDAQ:CEVA - Get Free Report) has earned an average recommendation of "Buy" from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.60.

Several research firms recently weighed in on CEVA. Barclays dropped their price objective on CEVA from $40.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Wall Street Zen downgraded CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Oppenheimer decreased their price objective on shares of CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Rosenblatt Securities restated a "buy" rating and set a $40.00 target price on shares of CEVA in a report on Thursday, May 8th.

CEVA Stock Down 3.2%

Shares of CEVA stock traded down $0.64 during trading on Thursday, reaching $19.13. The company's stock had a trading volume of 296,451 shares, compared to its average volume of 226,549. The business has a 50 day moving average price of $24.02 and a 200-day moving average price of $29.13. The company has a market capitalization of $457.40 million, a P/E ratio of -51.70 and a beta of 1.37. CEVA has a 12-month low of $16.02 and a 12-month high of $38.94.

CEVA (NASDAQ:CEVA - Get Free Report) last issued its 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). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The company had revenue of $24.25 million for the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts predict that CEVA will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other CEVA news, Director Louis Silver sold 4,520 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the sale, the director now directly owns 47,038 shares of the company's stock, valued at $1,457,237.24. This trade represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CEVA

Several institutional investors and hedge funds have recently modified their holdings of CEVA. Rhumbline Advisers boosted its position in shares of CEVA by 2.8% in the fourth quarter. Rhumbline Advisers now owns 73,270 shares of the semiconductor company's stock worth $2,312,000 after acquiring an additional 2,027 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of CEVA by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company's stock valued at $3,637,000 after purchasing an additional 3,171 shares during the period. D.A. Davidson & CO. grew its stake in shares of CEVA by 7.9% during the fourth quarter. D.A. Davidson & CO. now owns 60,014 shares of the semiconductor company's stock valued at $1,893,000 after acquiring an additional 4,417 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in CEVA by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company's stock valued at $7,154,000 after purchasing an additional 3,783 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of CEVA in the fourth quarter worth $215,000. Hedge funds and other institutional investors own 85.37% of the company's stock.

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.