Ceva (NASDAQ:CEVA) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Ceva, Inc. shares recently surpassed their 200-day moving average, trading at $27.34 compared to the average of $23.17.
• Rosenblatt Securities has issued a "buy" rating for Ceva with a price target of $40.00, contributing to a consensus rating of "Buy" from multiple analysts.
• Despite reported earnings of $0.07 per share, Ceva's revenue declined by 9.5% year-over-year, indicating potential ongoing challenges for the company.

Shares of Ceva, Inc. (NASDAQ:CEVA - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.17 and traded as high as $27.44. Ceva shares last traded at $27.34, with a volume of 260,842 shares.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reissued a "buy" rating and issued a $40.00 price target on shares of Ceva in a research note on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $35.60.

Ceva Stock Up 3.5%

The firm has a market cap of $652.88 million, a PE ratio of -65.09 and a beta of 1.29. The stock's fifty day simple moving average is $23.49 and its two-hundred day simple moving average is $23.17.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The business had revenue of $25.68 million for the quarter, compared to analysts' expectations of $25.33 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. The business's revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, equities research analysts anticipate that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ceva

Institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in shares of Ceva during the second quarter valued at approximately $42,000. AlphaQuest LLC grew its holdings in shares of Ceva by 123.6% during the second quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company's stock valued at $54,000 after buying an additional 1,355 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings 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 valued at $60,000 after buying an additional 2,208 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 valued at $88,000 after buying an additional 1,058 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings 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 valued at $217,000 after buying an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company's stock.

About Ceva

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.

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