StockNews.com Upgrades CEVA (NASDAQ:CEVA) to "Buy"

StockNews.com upgraded shares of CEVA (NASDAQ:CEVA - Free Report) from a hold rating to a buy rating in a research note published on Monday morning.

Several other equities research analysts have also issued reports on the stock. Barclays raised their target price on shares of CEVA from $34.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Northland Securities boosted their target price on CEVA from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Monday, December 23rd. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $35.00 price target on shares of CEVA in a report on Tuesday, February 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CEVA presently has a consensus rating of "Buy" and a consensus price target of $36.60.

CEVA Price Performance

Shares of NASDAQ CEVA traded down $1.12 during mid-day trading on Monday, hitting $25.90. 38,040 shares of the company's stock traded hands, compared to its average volume of 293,690. CEVA has a 1 year low of $16.02 and a 1 year high of $38.94. The company's 50-day moving average is $32.39 and its two-hundred day moving average is $29.39. The company has a market capitalization of $616.48 million, a P/E ratio of -70.04 and a beta of 1.32.

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CEVA (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. Equities analysts anticipate that CEVA will post -0.12 EPS for the current fiscal year.

Insider Activity at CEVA

In other CEVA news, Director Louis Silver sold 4,520 shares of the stock in a transaction dated Friday, March 14th. The shares were 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 in the company, valued at $1,457,237.24. This represents a 8.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On CEVA

Several hedge funds have recently modified their holdings of CEVA. Harvest Fund Management Co. Ltd bought a new position in CEVA in the fourth quarter worth approximately $40,000. Meeder Asset Management Inc. bought a new position in shares of CEVA in the 4th quarter worth $46,000. GAMMA Investing LLC lifted its stake in shares of CEVA by 63.3% during the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company's stock worth $75,000 after purchasing an additional 922 shares during the last quarter. Point72 DIFC Ltd boosted its position in CEVA by 16.8% during the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 378 shares in the last quarter. Finally, FMR LLC grew its stake in CEVA by 56.4% in the third quarter. FMR LLC now owns 3,409 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors 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.