CEVA, Inc. (NASDAQ:CEVA) Receives $27.00 Average Target Price from Brokerages

Shares of CEVA, Inc. (NASDAQ:CEVA) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $27.00.

CEVA has been the subject of a number of recent analyst reports. TD Cowen upped their price target on CEVA from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of CEVA in a report on Tuesday, February 13th.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 4,730 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $23.19, for a total value of $109,688.70. Following the sale, the director now directly owns 40,576 shares of the company’s stock, valued at $940,957.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On CEVA

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of CEVA by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 2,906,373 shares of the semiconductor company’s stock valued at $66,004,000 after purchasing an additional 39,691 shares during the last quarter. Congress Asset Management Co. MA bought a new position in CEVA during the 4th quarter valued at approximately $383,000. GSA Capital Partners LLP purchased a new position in CEVA during the fourth quarter valued at $1,519,000. Barclays PLC boosted its holdings in CEVA by 233.4% in the fourth quarter. Barclays PLC now owns 36,380 shares of the semiconductor company’s stock worth $826,000 after acquiring an additional 25,469 shares in the last quarter. Finally, Numerai GP LLC grew its stake in shares of CEVA by 486.6% in the fourth quarter. Numerai GP LLC now owns 60,837 shares of the semiconductor company’s stock worth $1,382,000 after acquiring an additional 50,465 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

CEVA Price Performance

Shares of NASDAQ CEVA opened at $22.71 on Friday. The firm’s fifty day moving average is $22.07 and its 200 day moving average is $21.17. CEVA has a 52 week low of $16.38 and a 52 week high of $30.57. The company has a market cap of $536.64 million, a price-to-earnings ratio of -44.53 and a beta of 1.14.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $24.16 million for the quarter, compared to analysts’ expectations of $24.32 million. CEVA had a negative net margin of 11.52% and a negative return on equity of 5.30%. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. Equities research analysts anticipate that CEVA will post -0.35 earnings per share for the current year.

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.