Rosenblatt Securities Increases CEVA (NASDAQ:CEVA) Price Target to $35.00

CEVA (NASDAQ:CEVA - Get Free Report) had its price target upped by Rosenblatt Securities from $28.00 to $35.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Rosenblatt Securities' target price suggests a potential upside of 23.81% from the stock's current price.

A number of other brokerages also recently weighed in on CEVA. Oppenheimer raised their target price on CEVA from $29.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. StockNews.com raised CEVA from a "hold" rating to a "buy" rating in a report on Thursday. Finally, Roth Mkm raised their target price on CEVA from $25.00 to $40.00 and gave the company a "buy" rating in a report on Friday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, CEVA presently has an average rating of "Buy" and a consensus price target of $34.00.

CEVA Price Performance

CEVA stock traded down $1.07 during mid-day trading on Friday, reaching $28.27. 420,150 shares of the company were exchanged, compared to its average volume of 151,970. The company has a fifty day simple moving average of $24.15 and a 200-day simple moving average of $21.62. CEVA has a 12 month low of $16.02 and a 12 month high of $30.00. The firm has a market cap of $669.72 million, a PE ratio of -97.48 and a beta of 1.20.

CEVA (NASDAQ:CEVA - Get Free Report) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.14. The firm 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%. Sell-side analysts anticipate that CEVA will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On CEVA

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of CEVA by 67.9% during the 1st quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company's stock valued at $11,887,000 after acquiring an additional 211,697 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of CEVA by 1,693.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company's stock valued at $7,284,000 after acquiring an additional 303,673 shares in the last quarter. Vanguard Group Inc. lifted its holdings in CEVA by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company's stock worth $67,428,000 after buying an additional 62,734 shares during the period. American Century Companies Inc. lifted its holdings in CEVA by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company's stock worth $621,000 after buying an additional 5,119 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in CEVA by 22.4% during the 1st quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company's stock worth $816,000 after buying an additional 6,580 shares during the period. Institutional investors and hedge funds 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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