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

CEVA (NASDAQ:CEVA) had its price objective upped by investment analysts at Rosenblatt Securities from $28.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 23.81% from the stock’s current price.

CEVA has been the subject of several other reports. Oppenheimer lifted their price objective on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Roth Mkm lifted their price objective on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Finally, StockNews.com raised CEVA from a “hold” rating to a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, CEVA has an average rating of “Buy” and a consensus target price of $34.00.

CEVA Stock Down 3.6 %

CEVA traded down $1.07 during midday trading on Friday, hitting $28.27. 420,150 shares of the company were exchanged, compared to its average volume of 151,970. The firm has a market capitalization of $669.72 million, a P/E ratio of -97.48 and a beta of 1.20. CEVA has a 1-year low of $16.02 and a 1-year high of $30.00. The firm’s 50 day moving average price is $24.15 and its 200-day moving average price is $21.62.

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

Institutional Trading of CEVA

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