CEVA, Inc. (NASDAQ:CEVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of CEVA, Inc. (NASDAQ:CEVAGet Free Report) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $27.00.

Several research analysts recently issued reports on CEVA shares. TD Cowen raised their target price on shares of CEVA from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of CEVA in a report on Tuesday, February 13th.

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CEVA Stock Performance

Shares of CEVA stock opened at $23.47 on Monday. CEVA has a fifty-two week low of $16.38 and a fifty-two week high of $32.39. The firm has a market capitalization of $552.95 million, a PE ratio of -46.02 and a beta of 1.10. The stock’s 50-day simple moving average is $21.48 and its 200-day simple moving average is $20.99.

CEVA (NASDAQ:CEVAGet Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. CEVA had a negative net margin of 11.52% and a negative return on equity of 5.30%. The company had revenue of $24.16 million for the quarter, compared to the consensus estimate of $24.32 million. During the same quarter in the prior year, the company earned $0.05 EPS. CEVA’s quarterly revenue was down 20.4% on a year-over-year basis. Sell-side analysts forecast that CEVA will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of CEVA by 2.7% in the 2nd quarter. BlackRock Inc. now owns 4,002,370 shares of the semiconductor company’s stock valued at $102,261,000 after purchasing an additional 103,682 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CEVA by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 2,906,373 shares of the semiconductor company’s stock worth $66,004,000 after buying an additional 39,691 shares during the period. Senvest Management LLC lifted its position in shares of CEVA by 1.6% during the 4th quarter. Senvest Management LLC now owns 1,894,223 shares of the semiconductor company’s stock valued at $43,018,000 after buying an additional 30,092 shares in the last quarter. State Street Corp grew its stake in CEVA by 13.2% in the 2nd quarter. State Street Corp now owns 1,175,515 shares of the semiconductor company’s stock valued at $30,034,000 after acquiring an additional 136,669 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in CEVA by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,084 shares of the semiconductor company’s stock worth $20,672,000 after acquiring an additional 45,621 shares in the last quarter. Institutional investors and hedge funds own 82.73% of the company’s stock.

About CEVA

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CEVA, Inc operates as a licensor of wireless connectivity and smart sensing technologies to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI).

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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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