Ceva, Inc. (NASDAQ:CEVA) Receives Consensus Recommendation of "Buy" from Brokerages

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

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of Ceva by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company's stock worth $1,071,000 after buying an additional 507 shares in the last quarter. Magnetar Financial LLC increased its stake in shares of Ceva by 2.8% in the fourth quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company's stock worth $623,000 after purchasing an additional 531 shares during the period. Two Sigma Securities LLC lifted its stake in shares of Ceva by 11.6% in the fourth quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company's stock valued at $297,000 after buying an additional 978 shares during the period. Barclays PLC boosted its position in shares of Ceva by 2.5% during the 4th quarter. Barclays PLC now owns 42,929 shares of the semiconductor company's stock valued at $1,354,000 after acquiring an additional 1,029 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Ceva by 44.5% during the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock valued at $88,000 after purchasing an additional 1,058 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

Ceva Stock Performance

Shares of NASDAQ:CEVA traded up $0.47 during trading on Monday, reaching $20.60. 273,463 shares of the stock traded hands, compared to its average volume of 234,446. Ceva has a 52-week low of $16.02 and a 52-week high of $38.94. The stock has a 50-day moving average of $22.09 and a two-hundred day moving average of $28.07. The stock has a market cap of $492.55 million, a P/E ratio of -73.57 and a beta of 1.23.

Ceva (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $26.55 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The company's quarterly revenue was up 9.8% on a year-over-year basis. 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.