Barclays Issues Pessimistic Forecast for CEVA (NASDAQ:CEVA) Stock Price

CEVA (NASDAQ:CEVA) had its price objective decreased by equities research analysts at Barclays from $40.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s price objective would suggest a potential upside of 49.33% from the stock’s current price.

Several other brokerages also recently weighed in on CEVA. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of CEVA in a research report on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CEVA has a consensus rating of “Moderate Buy” and a consensus price target of $35.60.

CEVA Stock Down 0.7 %

Shares of CEVA stock opened at $20.09 on Thursday. CEVA has a 12-month low of $16.02 and a 12-month high of $38.94. The stock has a market capitalization of $480.35 million, a P/E ratio of -54.30 and a beta of 1.37. The stock has a 50 day moving average price of $26.04 and a two-hundred day moving average price of $29.31.

CEVA (NASDAQ:CEVA) last posted its earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $26.55 million. CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Sell-side analysts anticipate that CEVA will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Louis Silver sold 4,520 shares of the business’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 transaction of $140,029.60. Following the completion of the transaction, the director now owns 47,038 shares in the company, valued at approximately $1,457,237.24. The trade was a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Institutional Trading of CEVA

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its stake in CEVA by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company’s stock worth $1,071,000 after acquiring an additional 507 shares during the period. Magnetar Financial LLC lifted its stake in shares of CEVA by 2.8% in the 4th quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 531 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of CEVA by 4.6% during the third quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock worth $441,000 after purchasing an additional 808 shares during the last quarter. GAMMA Investing LLC increased its position in CEVA by 63.3% in the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 922 shares during the period. Finally, Two Sigma Securities LLC increased its holdings in CEVA by 11.6% in the fourth quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 978 shares during the period. Institutional investors and hedge funds own 85.37% of the company’s stock.

About CEVA

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.