CEVA (NASDAQ:CEVA) Upgraded by StockNews.com to “Buy” Rating

CEVA (NASDAQ:CEVA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other research analysts have also recently issued research reports about the company. Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $25.00 in a research note on Thursday, August 8th. Oppenheimer raised their price objective 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 objective on shares of CEVA in a research note on Thursday, October 31st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $28.50.

CEVA Stock Up 16.5 %

Shares of CEVA stock traded up $4.16 on Thursday, reaching $29.34. The company’s stock had a trading volume of 377,966 shares, compared to its average volume of 150,729. The company has a market capitalization of $694.95 million, a P/E ratio of -101.17 and a beta of 1.20. CEVA has a 12-month low of $16.02 and a 12-month high of $29.86. The stock’s 50 day simple moving average is $24.15 and its 200-day simple moving average is $21.62.

CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. The business had revenue of $28.44 million for the quarter, compared to analysts’ expectations of $24.47 million. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. Research analysts expect that CEVA will post -0.31 EPS for the current year.

Institutional Trading of CEVA

Several large investors have recently modified their holdings of CEVA. BNP Paribas Financial Markets grew its stake in shares of CEVA by 22.4% in the first quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock worth $816,000 after purchasing an additional 6,580 shares during the last quarter. Swiss National Bank lifted its holdings in CEVA by 5.0% in the first quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock worth $1,056,000 after buying an additional 2,200 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in CEVA during the 1st quarter valued at approximately $245,000. 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 valued at $67,428,000 after acquiring an additional 62,734 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in CEVA by 67.9% during the 1st quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock valued at $11,887,000 after acquiring an additional 211,697 shares in the last quarter. 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.