CEVA’s (CEVA) “Buy” Rating Reiterated at Rosenblatt Securities

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

A number of other equities research analysts have also weighed in on the company. Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $25.00 in a research note on Thursday, August 8th. Oppenheimer raised their target price on shares of CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

CEVA Trading Up 1.5 %

Shares of CEVA stock opened at $23.68 on Thursday. The firm has a fifty day simple moving average of $24.01 and a 200-day simple moving average of $21.45. The company has a market capitalization of $560.98 million, a PE ratio of -81.65 and a beta of 1.20. CEVA has a twelve month low of $16.02 and a twelve month high of $25.74.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. The company had revenue of $28.44 million during 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%. Equities research analysts predict that CEVA will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in shares of CEVA by 67.9% during the first quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock valued at $11,887,000 after buying an additional 211,697 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in CEVA by 1,693.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock worth $7,284,000 after acquiring an additional 303,673 shares during the period. Vanguard Group Inc. boosted its position in CEVA by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after acquiring an additional 62,734 shares during the period. American Century Companies Inc. grew its stake in shares of CEVA by 18.9% in the second quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock worth $621,000 after purchasing an additional 5,119 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of CEVA by 22.4% during the first quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock valued at $816,000 after purchasing an additional 6,580 shares during the period. 85.37% of the stock is owned by institutional investors and hedge funds.

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.