StockNews.com Upgrades CEVA (NASDAQ:CEVA) to “Buy”

CEVA (NASDAQ:CEVA) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

CEVA has been the subject of several other research reports. Northland Securities lifted their price target on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Barclays raised their price objective on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $35.00 target price on shares of CEVA in a research report on Tuesday, February 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $36.60.

CEVA Stock Performance

Shares of CEVA opened at $28.11 on Monday. The business’s fifty day moving average price is $32.64 and its two-hundred day moving average price is $29.42. The firm has a market capitalization of $669.21 million, a price-to-earnings ratio of -75.97 and a beta of 1.32. CEVA has a 52 week low of $16.02 and a 52 week high of $38.94.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. As a group, research analysts forecast that CEVA will post -0.12 EPS for the current year.

Insider Buying and Selling

In other CEVA news, Director Louis Silver sold 4,520 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $30.98, for a total value of $140,029.60. Following the completion of the sale, the director now owns 47,038 shares of the company’s stock, valued at approximately $1,457,237.24. This represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On CEVA

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in CEVA during the 4th quarter worth $40,000. Meeder Asset Management Inc. bought a new stake in shares of CEVA in the fourth quarter worth about $46,000. GAMMA Investing LLC raised its position in shares of CEVA by 63.3% during the fourth quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 922 shares during the period. Point72 DIFC Ltd lifted its holdings in shares of CEVA by 16.8% during the 3rd quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 378 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of CEVA by 56.4% during the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 1,230 shares in the last quarter. 85.37% of the stock is owned by institutional investors.

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.