Ceva (NASDAQ:CEVA) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Ceva (NASDAQ:CEVA) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus boosted their target price on Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Benchmark raised Ceva from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Oppenheimer dropped their price target on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Rosenblatt Securities raised their price objective on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, TD Cowen cut their price objective on shares of Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Ceva Price Performance

Ceva stock opened at $31.75 on Friday. Ceva has a 1-year low of $17.02 and a 1-year high of $51.60. The stock has a market cap of $893.76 million, a PE ratio of -79.38 and a beta of 1.93. The stock’s fifty day moving average is $31.16 and its two-hundred day moving average is $34.02.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The business had revenue of $29.03 million during the quarter, compared to analysts’ expectations of $28.19 million. During the same period in the prior year, the firm posted $0.07 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts expect that Ceva will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ceva

Several large investors have recently modified their holdings of CEVA. BlackRock Inc. purchased a new stake in shares of Ceva in the second quarter valued at about $113,995,000. AWM Investment Company Inc. acquired a new stake in shares of Ceva during the second quarter worth about $37,719,000. Deutsche Bank AG purchased a new position in shares of Ceva during the second quarter worth about $33,941,000. Oaktop Capital Management II L.P. purchased a new position in shares of Ceva during the second quarter worth about $21,051,000. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Ceva by 3.9% during the first quarter. Rice Hall James & Associates LLC now owns 419,388 shares of the semiconductor company’s stock worth $7,834,000 after buying an additional 15,632 shares during the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

About Ceva

CEVA, Inc is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and sensing technologies. Its products are designed for integration into system-on-chip devices used in mobile, consumer, automotive, industrial and Internet of Things applications.

The company’s portfolio includes digital signal processors and specialized processor architectures for artificial intelligence, computer vision, audio, imaging and communications. CEVA also offers intellectual property for wireless technologies such as 5G, Wi-Fi, Bluetooth and ultra-wideband, as well as platforms supporting sensor fusion and edge computing.