Ceva (NASDAQ:CEVA) Sees Large Volume Increase - Should You Buy?

Key Points

• On Friday CEVA traded 231,046 shares (a 37% decline from the prior session) and last traded at $26.79, up from the previous close of $24.64.
• Analysts are largely positive with seven Buys and one Sell, giving a consensus rating of Moderate Buy and an average target price of $30.29 (individual targets range roughly $22–$40).
• The company has a market cap of about $797M and a negative PE (-66.79); it reported $0.18 EPS (in line with estimates) and 7.1% YoY revenue growth last quarter, while institutional investors hold 85.37% of shares after several funds increased stakes.

Ceva, Inc. (NASDAQ:CEVA - Get Free Report) saw strong trading volume on Friday . 231,046 shares changed hands during trading, a decline of 37% from the previous session's volume of 364,657 shares.The stock last traded at $26.79 and had previously closed at $24.64.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Ceva in a research note on Tuesday, February 10th. They issued a "buy" rating and a $30.00 target price on the stock. UBS Group assumed coverage on Ceva in a report on Wednesday, February 25th. They issued a "buy" rating and a $27.00 price target for the company. Rosenblatt Securities reissued a "buy" rating and set a $40.00 price objective on shares of Ceva in a research note on Thursday, March 12th. TD Cowen assumed coverage on Ceva in a report on Friday, March 20th. They issued a "buy" rating and a $22.00 target price for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ceva in a research note on Wednesday, April 8th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $30.29.

Ceva Stock Performance

The firm has a market cap of $797.13 million, a PE ratio of -66.79 and a beta of 1.53. The firm's 50 day moving average price is $20.33 and its two-hundred day moving average price is $22.53.

Ceva (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The firm had revenue of $31.29 million for the quarter, compared to analysts' expectations of $31.03 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The firm's quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Ceva, Inc. will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CEVA. Senvest Management LLC raised its stake in shares of Ceva by 8.0% in the 4th quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company's stock valued at $51,380,000 after acquiring an additional 177,765 shares during the period. Neuberger Berman Group LLC raised its position in Ceva by 44.1% in the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company's stock valued at $21,505,000 after purchasing an additional 305,540 shares during the period. AWM Investment Company Inc. lifted its stake in Ceva by 24.1% during the fourth quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company's stock worth $17,814,000 after purchasing an additional 160,644 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Ceva by 92.6% during the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company's stock worth $14,730,000 after buying an additional 329,047 shares during the period. Finally, Disciplined Growth Investors Inc. MN grew its stake in shares of Ceva by 40.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company's stock valued at $13,624,000 after buying an additional 179,098 shares in the last quarter. 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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