CEVA (NASDAQ:CEVA) Upgraded by StockNews.com to “Buy” Rating

CEVA (NASDAQ:CEVA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other analysts have also issued reports on CEVA. Northland Securities upped their target price on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Barclays boosted their price target on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price objective on shares of CEVA in a report on Tuesday, February 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $36.60.

CEVA Stock Down 2.6 %

NASDAQ CEVA opened at $28.11 on Monday. The firm’s 50 day moving average is $32.64 and its 200-day moving average is $29.42. The company has a market capitalization of $669.21 million, a PE ratio of -75.97 and a beta of 1.32. CEVA has a 12-month low of $16.02 and a 12-month high of $38.94.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. As a group, sell-side analysts expect that CEVA will post -0.12 EPS for the current year.

Insiders Place Their Bets

In other news, Director Louis Silver sold 4,520 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On CEVA

A number of large investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd bought a new position in CEVA during the fourth quarter worth $40,000. Meeder Asset Management Inc. bought a new position in shares of CEVA in the fourth quarter valued at about $46,000. GAMMA Investing LLC lifted its stake in shares of CEVA by 63.3% during the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock worth $75,000 after buying an additional 922 shares during the last quarter. Point72 DIFC Ltd boosted its holdings in shares of CEVA by 16.8% during the 3rd quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock worth $64,000 after buying an additional 378 shares during the period. Finally, FMR LLC boosted its holdings in shares of CEVA by 56.4% during the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock worth $82,000 after buying an additional 1,230 shares during the period. Institutional investors 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.