Ceva (NASDAQ:CEVA) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Ceva's stock crossed above its 200-day moving average of $22.53, trading as high as $25.76 and last at $24.64 on volume of 403,871 — a technical bullish signal.
• Analyst sentiment is constructive: seven Buys versus one Sell produce a consensus "Moderate Buy" with an average price target of $30.29.
• Fundamentals are mixed — Ceva reported $0.18 EPS and $31.29M revenue (up 7.1%) for the quarter, but it still has a negative net margin and P/E (−57.30) and analysts expect -$0.25 EPS for the year.

Ceva, Inc. (NASDAQ:CEVA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.53 and traded as high as $25.76. Ceva shares last traded at $24.64, with a volume of 403,871 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CEVA. TD Cowen began coverage on shares of Ceva in a research note on Friday, March 20th. They issued a "buy" rating and a $22.00 price target on the stock. Oppenheimer restated an "outperform" rating and set a $30.00 price objective (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 target price on shares of Ceva in a report on Thursday, March 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ceva in a research note on Wednesday, April 8th. Finally, Stifel Nicolaus began coverage on shares of Ceva in a report on Tuesday, February 10th. They set a "buy" rating and a $30.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.29.

Ceva Stock Performance

The business's 50-day moving average price is $20.33 and its 200-day moving average price is $22.53. The stock has a market cap of $686.47 million, a P/E ratio of -57.30 and a beta of 1.53.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, hitting 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 company had revenue of $31.29 million for the quarter, compared to analysts' expectations of $31.03 million. During the same period last year, the firm earned $0.11 EPS. Ceva's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Ceva, Inc. will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC purchased a new stake in Ceva in the 3rd quarter worth $11,410,000. Herald Investment Management Ltd lifted its position in shares of Ceva by 12.5% in the third quarter. Herald Investment Management Ltd now owns 450,000 shares of the semiconductor company's stock valued at $11,884,000 after acquiring an additional 50,000 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Ceva by 1,287.5% in the third quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company's stock worth $9,387,000 after acquiring an additional 329,802 shares during the period. Intrinsic Edge Capital Management LLC boosted its stake in shares of Ceva by 50.0% in the third quarter. Intrinsic Edge Capital Management LLC now owns 329,896 shares of the semiconductor company's stock worth $8,713,000 after acquiring an additional 110,000 shares during the period. Finally, DNB Asset Management AS grew its position in shares of Ceva by 71.5% during the third quarter. DNB Asset Management AS now owns 59,447 shares of the semiconductor company's stock worth $1,570,000 after purchasing an additional 24,778 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

About Ceva

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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