CEVA's (CEVA) Buy Rating Reiterated at Rosenblatt Securities

CEVA (NASDAQ:CEVA - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Rosenblatt Securities in a report issued on Wednesday,Benzinga reports. They presently have a $45.00 price target on the semiconductor company's stock. Rosenblatt Securities' price target points to a potential upside of 91.49% from the company's previous close.

CEVA has been the subject of a number of other reports. Barclays increased their price target on CEVA from $34.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. StockNews.com cut CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, CEVA currently has an average rating of "Moderate Buy" and an average price target of $38.60.

CEVA Price Performance

Shares of CEVA opened at $23.50 on Wednesday. The business has a 50-day moving average of $28.50 and a 200-day moving average of $29.30. The company has a market capitalization of $561.89 million, a price-to-earnings ratio of -63.51 and a beta of 1.46. CEVA has a 1 year low of $16.02 and a 1 year high of $38.94.

CEVA (NASDAQ:CEVA - Get Free Report) last released 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 return on equity of 2.48% and a negative net margin of 8.22%. As a group, sell-side analysts anticipate that CEVA will post -0.12 EPS for the current year.

Insider Activity

In related news, Director Louis Silver sold 4,520 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the transaction, the director now directly owns 47,038 shares of the company's stock, valued at approximately $1,457,237.24. This represents a 8.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CEVA

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in CEVA by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,165,300 shares of the semiconductor company's stock valued at $68,315,000 after purchasing an additional 24,313 shares in the last quarter. AWM Investment Company Inc. grew its holdings in shares of CEVA by 18.0% during the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company's stock valued at $18,935,000 after buying an additional 91,668 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CEVA by 0.7% during the third quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company's stock worth $13,505,000 after acquiring an additional 3,649 shares in the last quarter. Northern Trust Corp raised its holdings in shares of CEVA by 14.3% in the 4th quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company's stock worth $8,530,000 after acquiring an additional 33,737 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its position in CEVA by 199.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock valued at $8,035,000 after acquiring an additional 169,677 shares in the last quarter. Institutional investors own 85.37% of the company's stock.

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.

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