Ceva, Inc. (NASDAQ:CEVA) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Wall Street analysts rate Ceva “Moderate Buy,” with nine buy ratings, one strong buy, one hold and one sell; the average 12-month price target is $39.60.
• Institutional investors own 85.37% of Ceva’s shares, with several funds increasing their positions during the third quarter.
• Ceva’s latest quarterly results exceeded expectations, reporting $0.08 in EPS versus $0.07 estimated and $29.03 million in revenue, up 13% year over year; shares recently traded at $32.37.

Shares of Ceva, Inc. (NASDAQ:CEVA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $39.60.

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Ceva from $42.00 to $50.00 and gave the company a "buy" rating in a report on Friday, July 10th. Needham & Company LLC cut their price target 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. Rosenblatt Securities increased their price target on shares of Ceva from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Ceva from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. Finally, Benchmark raised shares of Ceva from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC increased its position in Ceva by 59.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 121,324 shares of the semiconductor company's stock worth $4,286,000 after purchasing an additional 45,138 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Ceva by 492.6% in the third quarter. Sterling Capital Management LLC now owns 877 shares of the semiconductor company's stock valued at $31,000 after buying an additional 729 shares during the period. Inspire Investing LLC raised its holdings in Ceva by 28.2% in the third quarter. Inspire Investing LLC now owns 18,257 shares of the semiconductor company's stock valued at $645,000 after buying an additional 4,011 shares during the period. SBI Securities Co. Ltd. lifted its position in Ceva by 771.7% during the third quarter. SBI Securities Co. Ltd. now owns 1,970 shares of the semiconductor company's stock valued at $70,000 after buying an additional 1,744 shares in the last quarter. Finally, Oakmont Investment Advisors Inc. acquired a new position in Ceva during the third quarter valued at approximately $705,000. Institutional investors and hedge funds own 85.37% of the company's stock.

Ceva Trading Up 3.2%

Shares of NASDAQ:CEVA opened at $32.37 on Thursday. The firm has a market cap of $911.22 million, a price-to-earnings ratio of -80.92 and a beta of 1.93. The stock's 50-day moving average price is $30.43 and its two-hundred day moving average price is $30.41. Ceva has a 12-month low of $17.02 and a 12-month high of $51.60.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The company had revenue of $29.03 million during the quarter, compared to the consensus estimate of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. As a group, research analysts forecast that Ceva will post -0.17 earnings per share for the current fiscal year.

Ceva Company Profile

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.

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.