Brokerages Set Ceva, Inc. (NASDAQ:CEVA) Target Price at $35.60

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

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

Hedge Funds Weigh In On Ceva

Several large investors have recently added to or reduced their stakes in the business. Silverberg Bernstein Capital Management LLC lifted its position in Ceva by 35.6% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 121,023 shares of the semiconductor company's stock valued at $2,660,000 after acquiring an additional 31,769 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Ceva by 52.2% during the 1st quarter. Voya Investment Management LLC now owns 59,712 shares of the semiconductor company's stock worth $1,529,000 after buying an additional 20,469 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Ceva during the 1st quarter worth approximately $1,328,000. K2 Principal Fund L.P. bought a new position in shares of Ceva during the 1st quarter worth approximately $485,000. Finally, Ardsley Advisory Partners LP bought a new position in shares of Ceva during the 1st quarter worth approximately $2,740,000. Institutional investors own 85.37% of the company's stock.

Ceva Price Performance

Shares of CEVA traded down $0.34 during trading hours on Friday, hitting $22.55. The stock had a trading volume of 232,131 shares, compared to its average volume of 240,831. The firm has a 50 day simple moving average of $21.26 and a 200-day simple moving average of $26.90. The firm has a market capitalization of $539.17 million, a P/E ratio of -80.53 and a beta of 1.26. Ceva has a 1-year low of $16.02 and a 1-year high of $38.94.

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