Analysts Set CEVA, Inc. (NASDAQ:CEVA) Target Price at $27.00

Shares of CEVA, Inc. (NASDAQ:CEVA) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $27.00.

Several analysts recently weighed in on CEVA shares. TD Cowen increased their price target on CEVA from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price on shares of CEVA in a research note on Tuesday, February 13th.

Insider Transactions at CEVA

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

Institutional Trading of CEVA

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of CEVA by 122.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 641 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of CEVA by 99.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 798 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of CEVA by 122.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,992 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 1,097 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CEVA by 64.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,108 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,617 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of CEVA by 69.8% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 4,363 shares of the semiconductor company’s stock valued at $85,000 after acquiring an additional 1,794 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

CEVA Stock Performance

NASDAQ:CEVA opened at $19.16 on Tuesday. The stock’s fifty day moving average is $22.62 and its 200 day moving average is $21.33. CEVA has a fifty-two week low of $16.38 and a fifty-two week high of $28.16. The firm has a market capitalization of $451.79 million, a PE ratio of -38.24 and a beta of 1.14.

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

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.