Ceva, Inc. (NASDAQ:CEVA) Receives $35.60 Average Target Price from Analysts

Ceva, Inc. (NASDAQ:CEVA - Get Free Report) has been given an average recommendation of "Buy" by the five ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $35.60.

Several equities research analysts recently commented on the company. Wall Street Zen cut Ceva from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Rosenblatt Securities reissued a "buy" rating and issued a $40.00 price objective on shares of Ceva in a research report on Thursday, May 8th. Oppenheimer cut their target price on Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Barclays decreased their price objective on Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th.

Ceva Price Performance

Shares of CEVA traded down $0.34 on Monday, reaching $20.13. The company's stock had a trading volume of 171,448 shares, compared to its average volume of 234,083. The stock has a market capitalization of $481.31 million, a P/E ratio of -71.89 and a beta of 1.23. Ceva has a 12-month low of $16.02 and a 12-month high of $38.94. The stock's 50 day simple moving average is $22.17 and its two-hundred day simple moving average is $28.12.

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

Institutional Investors Weigh In On Ceva

Institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in Ceva during the 1st quarter valued at $1,328,000. K2 Principal Fund L.P. bought a new position in Ceva during the first quarter worth $485,000. Ardsley Advisory Partners LP bought a new position in Ceva during the first quarter valued at about $2,740,000. AWM Investment Company Inc. raised its stake in shares of Ceva by 2.5% in the first quarter. AWM Investment Company Inc. now owns 615,162 shares of the semiconductor company's stock valued at $15,754,000 after purchasing an additional 15,000 shares in the last quarter. Finally, PEAK6 LLC acquired a new position in shares of Ceva in the 1st quarter worth approximately $256,000. Institutional investors own 85.37% of the company's stock.

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.