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

CEVA, Inc. (NASDAQ:CEVA) has received an average recommendation of “Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $36.60.

CEVA has been the subject of a number of research analyst reports. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Barclays increased their target price on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Northland Securities boosted their price target on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price objective on shares of CEVA in a report on Tuesday, February 11th.

CEVA Trading Down 5.6 %

NASDAQ CEVA opened at $21.28 on Wednesday. The stock has a market capitalization of $508.80 million, a price-to-earnings ratio of -57.51 and a beta of 1.46. The business’s 50 day moving average is $31.25 and its two-hundred day moving average is $29.50. CEVA has a 12-month low of $16.02 and a 12-month high of $38.94.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. Equities analysts forecast that CEVA will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Louis Silver sold 4,520 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the sale, the director now owns 47,038 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CEVA

A number of large investors have recently modified their holdings of the company. ArrowMark Colorado Holdings LLC raised its holdings 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 valued at $8,035,000 after buying an additional 169,677 shares during the period. Jane Street Group LLC grew its position in CEVA by 206.2% in the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after acquiring an additional 92,295 shares in the last quarter. AWM Investment Company Inc. raised its stake in shares of CEVA by 18.0% during the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company’s stock valued at $18,935,000 after purchasing an additional 91,668 shares during the period. Norges Bank purchased a new stake in shares of CEVA during the fourth quarter valued at approximately $2,817,000. Finally, Algert Global LLC lifted its position in shares of CEVA by 383.5% during the fourth quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company’s stock worth $2,875,000 after purchasing an additional 72,270 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

CEVA Company Profile

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.