Analysts Set CEVA, Inc. (NASDAQ:CEVA) Price Target at $27.00

CEVA, Inc. (NASDAQ:CEVA) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.00.

Several brokerages recently commented on CEVA. TD Cowen lifted their target price 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 reaffirmed a “buy” rating and set a $28.00 target price on shares of CEVA in a report on Tuesday, February 13th.

CEVA Price Performance

Shares of CEVA opened at $19.16 on Tuesday. The company has a market cap of $451.79 million, a PE ratio of -38.24 and a beta of 1.14. The firm has a 50-day moving average of $22.62 and a 200-day moving average of $21.33. CEVA has a one year low of $16.38 and a one year high of $28.16.

CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, February 14th. The semiconductor company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $24.16 million during the quarter, compared to the consensus estimate of $24.32 million. CEVA had a negative net margin of 11.52% and a negative return on equity of 5.30%. CEVA’s revenue was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. Analysts expect that CEVA will post -0.35 earnings per share for the current year.

Insider Buying and Selling at CEVA

In other CEVA news, Director Louis Silver sold 4,730 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.19, for a total value of $109,688.70. Following the completion of the sale, the director now owns 40,576 shares of the company’s stock, valued at approximately $940,957.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On CEVA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of CEVA by 2.7% in the 2nd quarter. BlackRock Inc. now owns 4,002,370 shares of the semiconductor company’s stock valued at $102,261,000 after buying an additional 103,682 shares in the last quarter. Vanguard Group Inc. increased its position in CEVA by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 2,906,373 shares of the semiconductor company’s stock worth $66,004,000 after purchasing an additional 39,691 shares in the last quarter. Senvest Management LLC increased its position in CEVA by 1.6% during the 4th quarter. Senvest Management LLC now owns 1,894,223 shares of the semiconductor company’s stock worth $43,018,000 after purchasing an additional 30,092 shares in the last quarter. State Street Corp increased its position in CEVA by 13.2% during the 2nd quarter. State Street Corp now owns 1,175,515 shares of the semiconductor company’s stock worth $30,034,000 after purchasing an additional 136,669 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in CEVA by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 809,084 shares of the semiconductor company’s stock worth $20,672,000 after purchasing an additional 45,621 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

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.