Ceva (NASDAQ:CEVA) Shares Gap Up - Time to Buy?

Key Points

• Ceva (NASDAQ:CEVA) stock gapped up, opening at $34.69 after a $32.53 close and last trading around $33.35, rising roughly 5.6% on about 197,700 shares.
• Analysts are broadly positive—seven Buys and one Sell—giving a consensus rating of "Moderate Buy" with a consensus price target of $32.43 and individual targets ranging from $22 to $40.
• Ceva reported $0.18 EPS (in line with estimates) and revenue of $31.29M (+7.1% YoY) for the quarter, but the company still posts a negative net margin (−9.71%) and negative ROE (−3.15%).

Ceva, Inc. (NASDAQ:CEVA - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $32.53, but opened at $34.69. Ceva shares last traded at $33.3450, with a volume of 197,696 shares traded.

Wall Street Analysts Forecast Growth

CEVA has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $30.00 price target (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. TD Cowen initiated coverage on shares of Ceva in a research note on Friday, March 20th. They issued a "buy" rating and a $22.00 price target for the company. Stifel Nicolaus initiated coverage on shares of Ceva in a research note on Tuesday, February 10th. They issued a "buy" rating and a $30.00 price target for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price target on shares of Ceva in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ceva in a research note on Wednesday, April 8th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ceva has a consensus rating of "Moderate Buy" and a consensus price target of $32.43.

Ceva Trading Up 5.6%

The company's 50-day moving average price is $20.99 and its two-hundred day moving average price is $22.41. The company has a market cap of $956.99 million, a P/E ratio of -79.88 and a beta of 1.94.

Ceva (NASDAQ:CEVA - Get Free Report) last released 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 net margin of 9.71% and a negative return on equity of 3.15%. The business had revenue of $31.29 million for the quarter, compared to the consensus estimate of $31.03 million. During the same period in the previous year, the firm earned $0.11 EPS. The business's revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts forecast that Ceva, Inc. will post -0.25 earnings per share for the current year.

Institutional Trading of Ceva

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its holdings in shares of Ceva by 77.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 632 shares in the last quarter. State of Wyoming bought a new stake in shares of Ceva in the 3rd quarter worth approximately $39,000. Tower Research Capital LLC TRC raised its holdings in shares of Ceva by 422.2% in the 2nd 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 in the last quarter. Russell Investments Group Ltd. raised 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 purchasing an additional 2,107 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised 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 purchasing an additional 2,172 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

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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