Ceva (NASDAQ:CEVA) Hits New 12-Month High – What’s Next?

Ceva, Inc. (NASDAQ:CEVA) shares reached a new 52-week high on Thursday . The company traded as high as $34.87 and last traded at $34.66, with a volume of 1035536 shares. The stock had previously closed at $33.72.

Analysts Set New Price Targets

CEVA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Ceva in a research report on Friday. They issued a “neutral” rating and a $30.00 target price for the company. Stifel Nicolaus initiated coverage on shares of Ceva in a report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price target for the company. Oppenheimer reissued an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. Finally, TD Cowen initiated coverage on shares of Ceva in a report on Friday, March 20th. They issued a “buy” rating and a $22.00 price target for the company. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ceva presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.13.

Ceva Stock Up 9.6%

The company has a market capitalization of $1.03 billion, a PE ratio of -85.97 and a beta of 1.94. The business’s 50 day simple moving average is $21.87 and its 200 day simple moving average is $22.53.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $31.29 million during the quarter, compared to analyst estimates of $31.03 million. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, analysts anticipate that Ceva, Inc. will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Ceva

A number of hedge funds have recently modified their holdings of CEVA. Millennium Management LLC lifted its holdings in shares of Ceva by 2,735.2% in the fourth quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock valued at $12,817,000 after purchasing an additional 574,592 shares in the last quarter. Defiance ETFs LLC purchased a new stake in shares of Ceva in the fourth quarter worth approximately $10,420,000. Penserra Capital Management LLC purchased a new stake in shares of Ceva in the third quarter worth approximately $11,410,000. Handelsbanken Fonder AB lifted its position in shares of Ceva by 1,287.5% in the third quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock worth $9,387,000 after purchasing an additional 329,802 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Ceva by 44.1% in the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after purchasing an additional 305,540 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

About Ceva

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.