Ceva (NASDAQ:CEVA) Given Buy Rating at Rosenblatt Securities

Key Points

• Rosenblatt Securities reaffirmed a buy rating and set a $40 price target for Ceva, implying roughly a 101% upside; the street consensus is a "Moderate Buy" with an average target of $31.67 (six buys, one sell).
• Ceva reported $0.18 EPS (in line) and $31.29M revenue (up 7.1% YoY) but remains unprofitable with a -9.71% net margin and negative ROE, while the stock trades around $19.87 (market cap ~$551M), below analyst targets.

Ceva (NASDAQ:CEVA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They presently have a $40.00 price target on the semiconductor company's stock. Rosenblatt Securities' price objective would indicate a potential upside of 101.31% from the company's previous close.

Other analysts have also recently issued reports about the company. Loop Capital assumed coverage on Ceva in a research report on Monday, December 1st. They issued a "buy" rating and a $28.00 target price for the company. Barclays boosted their price objective on Ceva from $30.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ceva in a report on Friday, January 9th. Stifel Nicolaus began coverage on shares of Ceva in a research report on Tuesday, February 10th. They issued a "buy" rating and a $30.00 price target for the company. Finally, Oppenheimer reiterated an "outperform" rating and set a $30.00 price target (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Ceva has an average rating of "Moderate Buy" and a consensus price target of $31.67.

Ceva Stock Down 0.6%

NASDAQ:CEVA opened at $19.87 on Thursday. The stock has a market capitalization of $551.47 million, a price-to-earnings ratio of -46.21 and a beta of 1.49. Ceva has a 52 week low of $18.23 and a 52 week high of $31.31. The stock's fifty day moving average is $21.74 and its two-hundred day moving average is $23.44.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. The firm had revenue of $31.29 million during the quarter, compared to analysts' expectations of $31.03 million. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. On average, sell-side analysts expect that Ceva will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Ceva

A number of large investors have recently made changes to their positions in CEVA. Hantz Financial Services Inc. boosted its holdings in Ceva by 77.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company's stock worth $31,000 after buying an additional 632 shares in the last quarter. State of Wyoming acquired a new stake in shares of Ceva during the 3rd quarter valued at approximately $39,000. Tower Research Capital LLC TRC boosted its stake in shares of Ceva by 422.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company's stock worth $60,000 after acquiring an additional 2,208 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Ceva by 771.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company's stock worth $63,000 after acquiring an additional 2,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ceva by 47.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company's stock worth $145,000 after acquiring an additional 2,172 shares during the period. Hedge funds and other institutional investors own 85.37% of the company's stock.

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.

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