Brokerages Set CEVA, Inc. (NASDAQ:CEVA) PT at $27.00

Shares of CEVA, Inc. (NASDAQ:CEVA) have earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $27.00.

Several brokerages recently commented on CEVA. TD Cowen boosted their price target on shares of CEVA from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Rosenblatt Securities restated a “buy” rating and set a $28.00 price target on shares of CEVA in a research report on Tuesday, February 13th.

Insiders Place Their Bets

In other news, Director Louis Silver sold 4,730 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $23.19, for a total value of $109,688.70. Following the transaction, the director now owns 40,576 shares of the company’s stock, valued at approximately $940,957.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

Institutional Trading of CEVA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its position in shares of CEVA by 122.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 641 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of CEVA by 99.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 798 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in CEVA by 64.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,108 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 1,617 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in CEVA by 69.8% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 4,363 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 1,794 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in CEVA by 49.5% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,335 shares of the semiconductor company’s stock worth $142,000 after purchasing an additional 2,429 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

CEVA Stock Up 1.3 %

CEVA stock opened at $18.91 on Tuesday. CEVA has a 52-week low of $16.38 and a 52-week high of $27.65. The company’s 50-day simple moving average is $22.47 and its 200-day simple moving average is $21.34. The firm has a market cap of $445.90 million, a P/E ratio of -37.08 and a beta of 1.14.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. The company had revenue of $24.16 million for the quarter, compared to analyst estimates of $24.32 million. CEVA had a negative return on equity of 5.30% and a negative net margin of 11.52%. CEVA’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. On average, analysts anticipate that CEVA will post -0.35 earnings per share for the current fiscal year.

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.