CEVA, Inc. (NASDAQ:CEVA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CEVA, Inc. (NASDAQ:CEVA) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $27.00.

Separately, Roth Mkm dropped their price objective on shares of CEVA from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, May 10th.

Insider Transactions at CEVA

In other news, Director Louis Silver sold 3,934 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $20.72, for a total value of $81,512.48. Following the transaction, the director now directly owns 40,576 shares in the company, valued at approximately $840,734.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On CEVA

A number of hedge funds have recently added to or reduced their stakes in CEVA. Citigroup Inc. lifted its holdings in CEVA by 10.4% during the 3rd quarter. Citigroup Inc. now owns 43,923 shares of the semiconductor company’s stock worth $852,000 after buying an additional 4,121 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of CEVA by 99.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 798 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of CEVA by 38.5% in the 3rd 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 during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CEVA in the 3rd quarter valued at approximately $316,000. Finally, Robertson Opportunity Capital LLC increased its position in shares of CEVA by 26.8% in the 3rd quarter. Robertson Opportunity Capital LLC now owns 94,600 shares of the semiconductor company’s stock valued at $1,834,000 after purchasing an additional 20,000 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Stock Up 0.3 %

CEVA stock opened at $19.29 on Friday. CEVA has a 52 week low of $16.38 and a 52 week high of $27.65. The stock has a market capitalization of $454.86 million, a P/E ratio of -36.40 and a beta of 1.16. The firm has a 50-day simple moving average of $19.86 and a 200-day simple moving average of $21.26.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.06). CEVA had a negative net margin of 12.91% and a negative return on equity of 5.70%. The business had revenue of $22.07 million for the quarter, compared to analysts’ expectations of $23.06 million. On average, analysts expect that CEVA will post -0.32 earnings per share for the current year.

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.