CEVA (NASDAQ:CEVA) Earns "Buy" Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of CEVA (NASDAQ:CEVA - Free Report) in a research report released on Thursday,Benzinga reports. The firm currently has a $40.00 price objective on the semiconductor company's stock.

A number of other analysts also recently issued reports on the stock. Barclays lifted their price objective on shares of CEVA from $34.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 14th. StockNews.com cut shares of CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $35.60.

CEVA Price Performance

Shares of NASDAQ CEVA traded down $0.15 during midday trading on Thursday, reaching $20.09. 286,346 shares of the stock were exchanged, compared to its average volume of 218,200. CEVA has a 12 month low of $16.02 and a 12 month high of $38.94. The company has a market capitalization of $480.35 million, a price-to-earnings ratio of -54.30 and a beta of 1.37. The business has a 50-day simple moving average of $26.04 and a two-hundred day simple moving average of $29.35.

CEVA (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The company had revenue of $24.25 million for the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company's revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that CEVA will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at CEVA

In other CEVA news, Director Louis Silver sold 4,520 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the transaction, the director now directly owns 47,038 shares of the company's stock, valued at $1,457,237.24. This represents a 8.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CEVA

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of CEVA by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company's stock worth $62,657,000 after purchasing an additional 281,274 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of CEVA by 199.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock worth $8,035,000 after acquiring an additional 169,677 shares in the last quarter. AWM Investment Company Inc. increased its stake in CEVA by 18.0% in the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company's stock valued at $18,935,000 after acquiring an additional 91,668 shares during the last quarter. Norges Bank bought a new position in shares of CEVA in the 4th quarter valued at $2,817,000. Finally, GAMMA Investing LLC grew its position in CEVA by 3,600.0% in the first quarter. GAMMA Investing LLC now owns 88,022 shares of the semiconductor company's stock valued at $2,254,000 after acquiring an additional 85,643 shares during the last quarter. Institutional investors and hedge funds 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.