Weiss Ratings Reaffirms "Sell (D-)" Rating for Ceva (NASDAQ:CEVA)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Ceva, indicating ongoing concerns about the company's stock performance.
• Despite the negative outlook from Weiss Ratings, Rosenblatt Securities has issued a "Buy" rating with a price target of $40.00, signifying divergence in analyst opinions.
• Ceva's latest earnings report showed a 9.5% decline in revenue compared to the same quarter last year, although it surpassed analysts' EPS expectations.

Ceva (NASDAQ:CEVA - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

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 and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.60.

Ceva Trading Up 1.4%

NASDAQ CEVA traded up $0.39 during trading on Tuesday, reaching $29.26. 90,485 shares of the company's stock were exchanged, compared to its average volume of 287,223. Ceva has a fifty-two week low of $18.31 and a fifty-two week high of $38.94. The firm has a market capitalization of $698.73 million, a PE ratio of -69.37 and a beta of 1.29. The company's fifty day simple moving average is $24.49 and its 200-day simple moving average is $23.10.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The firm had revenue of $25.68 million during the quarter, compared to analyst estimates of $25.33 million. During the same period last year, the company posted $0.17 EPS. The business's quarterly revenue was down 9.5% compared to the same quarter last year. Equities analysts forecast that Ceva will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceva

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new stake in Ceva in the 2nd quarter worth approximately $42,000. AlphaQuest LLC lifted its holdings in Ceva by 123.6% in the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 1,355 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Ceva by 422.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 2,208 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Ceva by 44.5% in the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after purchasing an additional 1,058 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Ceva by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company's stock worth $217,000 after purchasing an additional 479 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

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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