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

StockNews.com upgraded shares of CEVA (NASDAQ:CEVA) from a hold rating to a buy rating in a research note released on Monday.

Other equities analysts have also recently issued research reports about the stock. Rosenblatt Securities reiterated a “buy” rating and set a $35.00 price target on shares of CEVA in a research report on Tuesday, February 11th. Northland Securities upped their target price on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Finally, Barclays increased their target price on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $36.60.

CEVA Stock Performance

NASDAQ CEVA opened at $28.87 on Monday. CEVA has a fifty-two week low of $16.02 and a fifty-two week high of $38.94. The stock has a market cap of $687.31 million, a P/E ratio of -78.02 and a beta of 1.32. The stock has a 50 day simple moving average of $32.73 and a two-hundred day simple moving average of $29.38.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. Sell-side analysts predict that CEVA will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In other CEVA news, Director Louis Silver sold 4,520 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the completion of the transaction, the director now owns 47,038 shares of the company’s stock, valued at approximately $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by insiders.

Institutional Trading of CEVA

Hedge funds have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new position in CEVA during the 4th quarter valued at approximately $40,000. Meeder Asset Management Inc. purchased a new stake in shares of CEVA in the fourth quarter worth $46,000. Point72 DIFC Ltd increased its holdings in shares of 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 acquiring an additional 378 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CEVA by 63.3% in 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. Finally, FMR LLC boosted its stake in CEVA by 56.4% in the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 1,230 shares in the last quarter. 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.