Roth Mkm Cuts CEVA (NASDAQ:CEVA) Price Target to $20.00

CEVA (NASDAQ:CEVA - Get Free Report) had its price objective reduced by equities researchers at Roth Mkm from $25.00 to $20.00 in a report released on Friday, Benzinga reports. The firm presently has a "neutral" rating on the semiconductor company's stock. Roth Mkm's price target points to a potential upside of 1.99% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Rosenblatt Securities reiterated a "buy" rating and set a $28.00 price target on shares of CEVA in a research report on Tuesday, February 13th. TD Cowen increased their price target on shares of CEVA from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.00.

CEVA Price Performance

Shares of CEVA stock traded down $0.64 during trading hours on Friday, reaching $19.61. The stock had a trading volume of 133,792 shares, compared to its average volume of 132,216. CEVA has a twelve month low of $16.38 and a twelve month high of $27.65. The firm has a 50-day simple moving average of $21.84 and a 200-day simple moving average of $21.43. The firm has a market capitalization of $462.40 million, a PE ratio of -38.53 and a beta of 1.17.

CEVA (NASDAQ:CEVA - Get Free Report) last released its earnings results on Thursday, May 9th. The semiconductor company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.06). CEVA had a negative return on equity of 5.30% and a negative net margin of 11.52%. The firm had revenue of $22.07 million during the quarter, compared to analysts' expectations of $23.06 million. On average, equities analysts anticipate that CEVA will post -0.35 earnings per share for the current year.

Insider Activity at CEVA

In other news, Director Louis Silver sold 4,730 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $23.19, for a total transaction of $109,688.70. Following the transaction, the director now directly owns 40,576 shares of the company's stock, valued at $940,957.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Silverberg Bernstein Capital Management LLC purchased a new stake in shares of CEVA in the 4th quarter valued at about $1,653,000. PNC Financial Services Group Inc. boosted its holdings in CEVA by 99.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in CEVA by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,320 shares of the semiconductor company's stock worth $7,665,000 after acquiring an additional 101,737 shares in the last quarter. Numerai GP LLC bought a new stake in CEVA in the third quarter worth $201,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of CEVA by 38.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,771 shares of the semiconductor company's stock valued at $248,000 after purchasing an additional 3,549 shares in the last quarter. Institutional investors own 85.37% of the company's stock.

CEVA Company Profile

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.