Rosenblatt Securities Reiterates “Buy” Rating for CEVA (NASDAQ:CEVA)

Rosenblatt Securities reissued their buy rating on shares of CEVA (NASDAQ:CEVA) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $35.00 price target on the semiconductor company’s stock.

A number of other equities analysts also recently commented on CEVA. Northland Securities increased their price objective on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Roth Mkm upped their target price on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

CEVA Price Performance

Shares of CEVA opened at $34.96 on Tuesday. The business’s 50-day moving average is $32.42 and its 200-day moving average is $27.23. CEVA has a fifty-two week low of $16.02 and a fifty-two week high of $37.75. The company has a market capitalization of $826.10 million, a price-to-earnings ratio of -249.70 and a beta of 1.25.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.69% and a negative net margin of 3.22%. Equities research analysts expect that CEVA will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CEVA

Several hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in shares of CEVA in the fourth quarter valued at approximately $656,000. Barclays PLC boosted its position in shares of CEVA by 2.5% in the fourth quarter. Barclays PLC now owns 42,929 shares of the semiconductor company’s stock valued at $1,354,000 after acquiring an additional 1,029 shares during the period. Legal & General Group Plc boosted its position in shares of CEVA by 5.7% in the fourth quarter. Legal & General Group Plc now owns 63,278 shares of the semiconductor company’s stock valued at $1,996,000 after acquiring an additional 3,387 shares during the period. Polymer Capital Management US LLC bought a new stake in shares of CEVA in the fourth quarter valued at approximately $246,000. Finally, Wells Fargo & Company MN boosted its position in shares of CEVA by 22.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,225 shares of the semiconductor company’s stock valued at $733,000 after acquiring an additional 4,294 shares during the period. 85.37% of the stock is owned by 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.