CEVA (NASDAQ:CEVA) Given New $40.00 Price Target at Roth Mkm

CEVA (NASDAQ:CEVA) had its price objective raised by Roth Mkm from $25.00 to $40.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

CEVA has been the subject of a number of other reports. StockNews.com raised CEVA from a “hold” rating to a “buy” rating in a research note on Thursday. Oppenheimer increased their price target on CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price target on shares of CEVA in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $34.00.

CEVA Price Performance

CEVA stock traded down $1.07 on Friday, reaching $28.27. The company’s stock had a trading volume of 420,170 shares, compared to its average volume of 151,970. CEVA has a 52 week low of $16.02 and a 52 week high of $30.00. The company has a market capitalization of $669.72 million, a P/E ratio of -97.48 and a beta of 1.20. The firm has a fifty day moving average of $24.24 and a two-hundred day moving average of $21.68.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The business 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%. As a group, equities analysts expect that CEVA will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On CEVA

A number of institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE lifted its position 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 acquiring an additional 779 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of CEVA by 338.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 1,125 shares during the last quarter. Swiss National Bank lifted its holdings in shares of CEVA by 5.0% in the first quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock valued at $1,056,000 after purchasing an additional 2,200 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of CEVA in the second quarter valued at $43,000. Finally, nVerses Capital LLC purchased a new stake in shares of CEVA in the second quarter valued at $50,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

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.