CEVA (NASDAQ:CEVA) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of CEVA (NASDAQ:CEVA) from a hold rating to a buy rating in a research note published on Thursday.

A number of other analysts have also weighed in on CEVA. Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of CEVA in a report on Thursday, October 31st. Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $25.00 in a report on Thursday, August 8th. Finally, Oppenheimer upped their target price on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.25.

CEVA Stock Down 4.9 %

NASDAQ:CEVA traded down $1.43 during midday trading on Thursday, hitting $27.91. The stock had a trading volume of 287,411 shares, compared to its average volume of 151,284. CEVA has a one year low of $16.02 and a one year high of $30.00. The company has a market capitalization of $661.08 million, a price-to-earnings ratio of -101.03 and a beta of 1.20. The stock has a 50-day moving average of $24.15 and a 200 day moving average of $21.62.

CEVA (NASDAQ:CEVA) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The company had revenue of $28.44 million during 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, sell-side analysts anticipate that CEVA will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of CEVA

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its holdings 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 valued at $34,000 after purchasing an additional 779 shares during the last quarter. GAMMA Investing LLC raised its stake in CEVA by 338.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 1,125 shares during the last quarter. Point72 DIFC Ltd purchased a new position in CEVA in the 2nd quarter worth $43,000. nVerses Capital LLC purchased a new position in CEVA in the 2nd quarter worth $50,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in CEVA in the 2nd quarter worth $65,000. Hedge funds and other 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.