CEVA (NASDAQ:CEVA) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of CEVA (NASDAQ:CEVA) in a report released on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a $28.00 price objective on the semiconductor company’s stock.

CEVA has been the topic of a number of other reports. Oppenheimer raised their price target on shares of CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $25.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

CEVA Price Performance

CEVA stock traded up $0.54 during trading on Thursday, reaching $23.87. 7,020 shares of the stock traded hands, compared to its average volume of 149,403. The firm has a market capitalization of $565.48 million, a PE ratio of -80.46 and a beta of 1.19. CEVA has a 52-week low of $16.02 and a 52-week high of $25.74. The business’s 50 day moving average price is $24.03 and its 200-day moving average price is $21.42.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.14. The company had revenue of $28.44 million for the quarter, compared to analyst estimates of $24.47 million. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. On average, equities research analysts predict that CEVA will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On CEVA

A number of hedge funds and other institutional investors have recently made changes to their positions in CEVA. US Bancorp DE grew its position in CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 779 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of CEVA by 338.9% in the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 1,125 shares during the period. Point72 DIFC Ltd acquired a new stake in CEVA during the second quarter worth about $43,000. nVerses Capital LLC acquired a new position in CEVA in the 2nd quarter valued at approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of CEVA in the 2nd quarter worth approximately $65,000. 85.37% of the stock is 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.