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

CEVA (NASDAQ:CEVA - Get Free Report)'s stock had its "buy" rating restated by research analysts at Rosenblatt Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $28.00 price target on the semiconductor company's stock. Rosenblatt Securities' price target suggests a potential upside of 19.99% from the stock's current price.

Several other research analysts also recently commented on the company. Oppenheimer raised their price objective on CEVA from $29.00 to $33.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Roth Mkm upgraded CEVA from a "neutral" rating to a "buy" rating and lifted their price target for the company from $20.00 to $25.00 in a report on Thursday, August 8th. Finally, StockNews.com downgraded CEVA from a "buy" rating to a "hold" rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CEVA presently has a consensus rating of "Moderate Buy" and an average price target of $28.50.

CEVA Trading Down 4.4 %

Shares of CEVA stock traded down $1.09 on Thursday, reaching $23.34. 140,623 shares of the company's stock were exchanged, compared to its average volume of 150,078. CEVA has a 52 week low of $16.02 and a 52 week high of $25.74. The stock has a market capitalization of $552.71 million, a PE ratio of -84.21 and a beta of 1.19. The company's fifty day simple moving average is $24.04 and its 200 day simple moving average is $21.41.

CEVA (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.14. The company had revenue of $28.44 million for the quarter, compared to the consensus estimate of $24.47 million. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. As a group, sell-side analysts predict that CEVA will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CEVA. US Bancorp DE grew its stake in CEVA by 125.8% during the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company's stock worth $34,000 after buying an additional 779 shares during the last quarter. GAMMA Investing LLC lifted its position in CEVA by 338.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 1,125 shares during the period. Point72 DIFC Ltd acquired a new stake in CEVA during the 2nd quarter worth about $43,000. nVerses Capital LLC acquired a new stake in CEVA during the 2nd quarter worth about $50,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in CEVA during the 2nd quarter worth about $65,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

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.