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

Key Points

• Analysts rate Ceva “Moderate Buy”: Nine of 12 analysts recommend buying the stock, while two rate it a hold and one a sell. The average 12-month price target is $40.60, with Rosenblatt raising its target to $49.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 85.37% of Ceva’s outstanding shares and several investors adding or initiating positions.
• Ceva’s latest quarterly results exceeded expectations, with EPS of $0.08 versus $0.07 expected and revenue of $29.03 million, up 13% year over year. Despite the revenue growth, the company reported a negative net margin and analysts expect a full-year loss.

Shares of Ceva, Inc. (NASDAQ:CEVA - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $40.60.

Several research firms recently issued reports on CEVA. Rosenblatt Securities lifted their price objective on Ceva from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Tuesday. Benchmark reissued a "hold" rating on shares of Ceva in a report on Tuesday. JPMorgan Chase & Co. started coverage on Ceva in a research report on Friday, May 8th. They issued a "neutral" rating and a $30.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Ceva in a research note on Monday, July 6th. Finally, Roth Capital restated a "buy" rating and issued a $40.00 price objective on shares of Ceva in a report on Monday, May 11th.

Institutional Investors Weigh In On Ceva

A number of hedge funds have recently modified their holdings of CEVA. Hsbc Holdings PLC acquired a new stake in Ceva in the 4th quarter valued at about $777,000. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Ceva during the 4th quarter worth approximately $603,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Ceva during the 4th quarter worth approximately $497,000. Needham Investment Management LLC grew its position in shares of Ceva by 16.4% in the fourth quarter. Needham Investment Management LLC now owns 160,000 shares of the semiconductor company's stock valued at $3,443,000 after purchasing an additional 22,500 shares in the last quarter. Finally, Themes Management Co LLC purchased a new stake in shares of Ceva in the fourth quarter valued at approximately $939,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Stock Up 9.6%

CEVA opened at $33.28 on Friday. The firm's fifty day simple moving average is $40.42 and its two-hundred day simple moving average is $31.05. Ceva has a 52-week low of $17.02 and a 52-week high of $51.60. The company has a market cap of $936.83 million, a price-to-earnings ratio of -83.20 and a beta of 1.99.

Ceva (NASDAQ:CEVA - Get Free Report) last released its earnings results on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The business had revenue of $29.03 million during the quarter, compared to analysts' expectations of $28.19 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The company's quarterly revenue was up 13.0% on a year-over-year basis. On average, research analysts forecast that Ceva will post -0.2 EPS for the current year.

Ceva Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source