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

Ceva, Inc. (NASDAQ:CEVA - Get Free Report) has earned a consensus recommendation of "Buy" from the five brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $35.60.

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

Ceva Price Performance

NASDAQ:CEVA opened at $23.20 on Friday. Ceva has a 52 week low of $16.02 and a 52 week high of $38.94. The company's 50 day moving average price is $21.34 and its 200-day moving average price is $27.04. The stock has a market cap of $554.71 million, a price-to-earnings ratio of -82.85 and a beta of 1.26.

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 company had revenue of $24.25 million during the quarter, compared to analysts' expectations of $26.55 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ceva will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Ceva

A number of hedge funds have recently modified their holdings of CEVA. Harvest Fund Management Co. Ltd bought a new stake in shares of Ceva during the 4th quarter valued at $40,000. Meeder Asset Management Inc. bought a new position in Ceva in the 4th quarter worth $46,000. GAMMA Investing LLC boosted its holdings in Ceva by 44.5% in the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after buying an additional 1,058 shares during the period. KLP Kapitalforvaltning AS bought a new position in Ceva in the 4th quarter worth $129,000. Finally, Arizona State Retirement System bought a new position in Ceva in the 4th quarter worth $217,000. 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.

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