Rosenblatt Securities Increases CEVA (NASDAQ:CEVA) Price Target to $35.00

CEVA (NASDAQ:CEVA) had its target price hoisted by investment analysts at Rosenblatt Securities from $28.00 to $35.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ target price points to a potential upside of 23.81% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. StockNews.com raised CEVA from a “hold” rating to a “buy” rating in a research note on Thursday. Roth Mkm raised their price target on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday. Finally, Oppenheimer lifted their price objective on CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $34.00.

CEVA Stock Performance

CEVA opened at $28.27 on Friday. The stock’s 50 day moving average price is $24.24 and its 200-day moving average price is $21.70. CEVA has a one year low of $16.02 and a one year high of $30.00. The stock has a market cap of $669.72 million, a price-to-earnings ratio of -97.48 and a beta of 1.20.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The firm had revenue of $28.44 million for the quarter, compared to analysts’ expectations of $24.47 million. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. As a group, analysts predict that CEVA will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE lifted its stake in shares of CEVA by 125.8% during the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 779 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of CEVA by 338.9% during 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 last quarter. Point72 DIFC Ltd bought a new stake in shares of CEVA in the 2nd quarter valued at about $43,000. nVerses Capital LLC purchased a new position in shares of CEVA in the 2nd quarter worth approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CEVA during the 2nd quarter worth approximately $65,000. 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.