Ceva's (CEVA) Buy Rating Reaffirmed at Rosenblatt Securities

Key Points

• Rosenblatt Securities reaffirmed a "buy" rating on Ceva's stock, setting a price target of $40.00, which indicates a potential upside of 64.14% from its current market price.
• Recently, other analysts have adjusted their target prices, with Oppenheimer lowering it to $33.00 and Barclays to $30.00, showing some divergence in market outlook.
• Ceva reported earnings of $0.07 per share, exceeding expectations, despite a revenue decline of 9.5% year-over-year, reflecting challenges in the semiconductor sector.

Rosenblatt Securities reiterated their buy rating on shares of Ceva (NASDAQ:CEVA - Free Report) in a research note published on Thursday,Benzinga reports. They currently have a $40.00 price objective on the semiconductor company's stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer dropped their price objective on shares of Ceva from $40.00 to $33.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Barclays decreased their target price on Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $35.60.

Ceva Price Performance

Shares of CEVA traded down $0.8360 on Thursday, reaching $22.8740. 67,787 shares of the stock traded hands, compared to its average volume of 282,376. The stock's 50-day moving average price is $22.25 and its 200-day moving average price is $25.07. The firm has a market cap of $546.23 million, a price-to-earnings ratio of -54.46 and a beta of 1.25. Ceva has a 12 month low of $18.31 and a 12 month high of $38.94.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $25.68 million for the quarter, compared to analyst estimates of $25.33 million. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.Ceva's quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, equities research analysts forecast that Ceva will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Ceva

Several institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new position in shares of Ceva during the second quarter worth approximately $42,000. AlphaQuest LLC increased its stake in shares of Ceva by 123.6% during the second quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 1,355 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 2,208 shares during the period. GAMMA Investing LLC increased its stake in shares of Ceva by 44.5% during the first quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after purchasing an additional 1,058 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Ceva by 5.1% during the second quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company's stock worth $217,000 after purchasing an additional 479 shares during the period. Institutional investors own 85.37% of the company's stock.

Ceva Company Profile

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.