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

Key Points

• Ceva, Inc. has received a consensus recommendation of "Buy" from five ratings firms, with an average 12-month price target of $35.60.
• The company's stock saw significant interest from institutional investors, who own 85.37% of Ceva, with notable increases in holdings by firms like Centaurus Financial and Squarepoint Ops.
• In its latest quarterly earnings report, Ceva posted an EPS of $0.07, beating estimates, despite experiencing a 9.5% decline in revenue year-over-year.

Ceva, Inc. (NASDAQ:CEVA - Get Free Report) has been assigned an average rating of "Buy" from the five ratings firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $35.60.

Separately, Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 price objective on shares of Ceva in a report on Thursday, August 14th.

Institutional Trading of Ceva

A number of hedge funds have recently bought and sold shares of the business. Centaurus Financial Inc. raised its holdings in Ceva by 9.9% in the 2nd quarter. Centaurus Financial Inc. now owns 21,355 shares of the semiconductor company's stock valued at $469,000 after acquiring an additional 1,917 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Ceva by 835.6% in the 2nd quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company's stock valued at $1,894,000 after acquiring an additional 76,942 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Ceva by 8.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 81,562 shares of the semiconductor company's stock worth $1,793,000 after buying an additional 6,630 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Ceva by 422.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company's stock valued at $60,000 after buying an additional 2,208 shares during the period. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Ceva during the 2nd quarter valued at approximately $276,000. Institutional investors and hedge funds own 85.37% of the company's stock.

Ceva Stock Down 0.3%

CEVA opened at $26.33 on Wednesday. Ceva has a twelve month low of $18.31 and a twelve month high of $38.94. The company has a 50-day moving average price of $23.11 and a 200 day moving average price of $23.28. The company has a market cap of $628.76 million, a PE ratio of -62.69 and a beta of 1.26.

Ceva (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The company had revenue of $25.68 million during the quarter, compared to the consensus estimate of $25.33 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. Ceva's quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, sell-side 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.

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