Ceva (NASDAQ:CEVA) Hits New 12-Month Low – Time to Sell?

Ceva, Inc. (NASDAQ:CEVA)’s stock price reached a new 52-week low on Friday . The stock traded as low as $18.16 and last traded at $18.1850, with a volume of 88197 shares. The stock had previously closed at $18.40.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Loop Capital began coverage on Ceva in a report on Monday, December 1st. They issued a “buy” rating and a $28.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. Stifel Nicolaus initiated coverage on shares of Ceva in a research note on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price target on the stock. UBS Group initiated coverage on shares of Ceva in a research report on Wednesday, February 25th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of Ceva in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ceva currently has an average rating of “Moderate Buy” and an average target price of $31.67.

Ceva Trading Down 0.9%

The stock has a market cap of $506.23 million, a P/E ratio of -42.42 and a beta of 1.49. The stock has a 50 day simple moving average of $21.59 and a 200 day simple moving average of $23.38.

Ceva (NASDAQ:CEVA) last released its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The firm had revenue of $31.29 million during the quarter, compared to the consensus estimate of $31.03 million. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Ceva, Inc. will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Ceva

A number of large investors have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in Ceva by 2,735.2% in the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock valued at $12,817,000 after buying an additional 574,592 shares during the period. Defiance ETFs LLC bought a new stake in shares of Ceva during the 4th quarter worth approximately $10,420,000. Penserra Capital Management LLC acquired a new stake in shares of Ceva during the 3rd quarter worth approximately $11,410,000. Handelsbanken Fonder AB boosted its position in shares of Ceva by 1,287.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock worth $9,387,000 after acquiring an additional 329,802 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Ceva by 44.1% in the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock valued at $21,505,000 after acquiring an additional 305,540 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Company Profile

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.