Ceva, Inc. (NASDAQ:CEVA) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Nine analysts rate Ceva a buy, one a strong buy, one a hold and one a sell. The average 12-month price target is $40.60, versus a recent price of $37.10.
• Institutional ownership is substantial: Hedge funds and other institutions own 85.37% of Ceva, with BlackRock, AWM Investment and Deutsche Bank among investors that recently acquired new stakes.
• Quarterly results exceeded expectations: Ceva reported earnings of $0.08 per share and revenue of $29.03 million, surpassing estimates and reflecting 13% year-over-year revenue growth, though the company remains unprofitable on a net-margin basis.

Shares of Ceva, Inc. (NASDAQ:CEVA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twelve analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $40.60.

A number of research analysts have weighed in on the stock. Needham & Company LLC dropped their target price on shares of Ceva from $55.00 to $43.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. TD Cowen decreased their price target on shares of Ceva from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Oppenheimer lowered their price target on shares of Ceva from $42.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. Stifel Nicolaus lifted their price target on shares of Ceva from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded Ceva from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Ceva in the 2nd quarter worth about $113,995,000. AWM Investment Company Inc. purchased a new stake in Ceva during the second quarter valued at about $37,719,000. Deutsche Bank AG bought a new position in Ceva during the second quarter worth about $33,941,000. Oaktop Capital Management II L.P. bought a new position in Ceva during the second quarter worth about $21,051,000. Finally, Rice Hall James & Associates LLC boosted its position in Ceva by 0.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 403,756 shares of the semiconductor company's stock worth $8,689,000 after purchasing an additional 1,234 shares during the period. Hedge funds and other institutional investors own 85.37% of the company's stock.

Ceva Price Performance

NASDAQ CEVA opened at $37.10 on Friday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -92.75 and a beta of 1.93. Ceva has a one year low of $17.02 and a one year high of $51.60. The business's fifty day moving average is $30.92 and its 200-day moving average is $33.25.

Ceva (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The company had revenue of $29.03 million for the quarter, compared to the consensus estimate of $28.19 million. During the same period in the previous year, the firm earned $0.07 EPS. The firm's quarterly revenue was up 13.0% on a year-over-year basis. Research analysts expect that Ceva will post -0.17 EPS for the current fiscal year.

About Ceva

CEVA, Inc is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and sensing technologies. Its products are designed for integration into system-on-chip devices used in mobile, consumer, automotive, industrial and Internet of Things applications.

The company's portfolio includes digital signal processors and specialized processor architectures for artificial intelligence, computer vision, audio, imaging and communications. CEVA also offers intellectual property for wireless technologies such as 5G, Wi-Fi, Bluetooth and ultra-wideband, as well as platforms supporting sensor fusion and edge computing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.