Roth Mkm Forecasts Strong Price Appreciation for CEVA (NASDAQ:CEVA) Stock

CEVA (NASDAQ:CEVA - Get Free Report) had its target price raised by analysts at Roth Mkm from $25.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Roth Mkm's target price indicates a potential upside of 41.49% from the company's current price.

Several other research firms have also issued reports on CEVA. StockNews.com upgraded CEVA from a "hold" rating to a "buy" rating in a research report on Thursday. Oppenheimer boosted their target price on CEVA from $29.00 to $33.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $28.00 price target on shares of CEVA in a research note on Thursday, October 31st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $34.00.

CEVA Stock Performance

CEVA stock traded down $1.07 during trading hours on Friday, reaching $28.27. 420,150 shares of the company's stock traded hands, compared to its average volume of 151,970. The firm has a market capitalization of $669.72 million, a price-to-earnings ratio of -97.48 and a beta of 1.20. CEVA has a fifty-two week low of $16.02 and a fifty-two week high of $30.00. The firm's 50 day moving average is $24.24 and its 200-day moving average is $21.68.

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

Institutional Investors Weigh In On CEVA

Several large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co increased its position in shares of CEVA by 1,693.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company's stock worth $7,284,000 after acquiring an additional 303,673 shares in the last quarter. Acadian Asset Management LLC increased its holdings in CEVA by 67.9% during the 1st quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company's stock worth $11,887,000 after purchasing an additional 211,697 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of CEVA by 97.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company's stock valued at $5,114,000 after purchasing an additional 104,453 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CEVA by 2.2% in the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company's stock valued at $67,428,000 after purchasing an additional 62,734 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of CEVA during the second quarter worth about $892,000. 85.37% of the stock is currently 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.