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

Key Points

• Analysts give Ceva a consensus recommendation of "Moderate Buy" (7 buys, 1 sell) with an average 12‑month target of $32.43, though individual targets vary widely from $22 to $42 and some firms (Weiss) maintain sell ratings.
• 85.37% of Ceva's shares are held by institutions and several hedge funds increased positions recently; the stock trades near its 12‑month high ($34.66, market cap ~$965.6M) after a quarter that met EPS and slightly beat revenue but still showed a negative net margin (−9.71%) and analysts expect −$0.25 EPS for the fiscal year.

Ceva, Inc. (NASDAQ:CEVA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $32.4286.

CEVA has been the subject of a number of research reports. Oppenheimer restated an "outperform" rating and issued a $30.00 price target (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. TD Cowen initiated coverage on shares of Ceva in a report on Friday, March 20th. They set a "buy" rating and a $22.00 price objective for the company. UBS Group lifted their price objective on shares of Ceva from $27.00 to $42.00 and gave the company a "buy" rating in a report on Monday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ceva in a report on Wednesday, April 8th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $40.00 price objective on shares of Ceva in a report on Thursday, March 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Senvest Management LLC grew its holdings in shares of Ceva by 8.0% during the fourth quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company's stock valued at $51,380,000 after buying an additional 177,765 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Ceva by 44.1% during the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company's stock valued at $21,505,000 after buying an additional 305,540 shares during the last quarter. AWM Investment Company Inc. grew its holdings in shares of Ceva by 24.1% during the fourth quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company's stock valued at $17,814,000 after buying an additional 160,644 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Ceva by 92.6% during the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company's stock worth $14,730,000 after purchasing an additional 329,047 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Ceva by 40.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company's stock worth $13,624,000 after purchasing an additional 179,098 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Trading Up 2.8%

NASDAQ:CEVA opened at $34.66 on Thursday. The stock has a market capitalization of $965.63 million, a price-to-earnings ratio of -80.60 and a beta of 1.94. The firm has a fifty day simple moving average of $21.59 and a two-hundred day simple moving average of $22.48. Ceva has a 12 month low of $17.02 and a 12 month high of $34.87.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. The business had revenue of $31.29 million during the quarter, compared to analysts' expectations of $31.03 million. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share. Equities analysts predict that Ceva will post -0.25 earnings per share for the current fiscal year.

About Ceva

Ceva, Inc NASDAQ: CEVA is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.

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