CEVA, Inc. (NASDAQ:CEVA) Given Consensus Recommendation of “Buy” by Analysts

CEVA, Inc. (NASDAQ:CEVA) has been given a consensus rating of “Buy” by the five ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.20.

Several analysts have commented on the company. Roth Mkm increased their target price on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Rosenblatt Securities increased their target price on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Northland Securities increased their target price on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd.

CEVA Stock Down 1.3 %

CEVA stock opened at $33.33 on Friday. The company has a market capitalization of $787.59 million, a P/E ratio of -238.05 and a beta of 1.24. The stock’s 50 day moving average is $30.88 and its 200 day moving average is $25.44. CEVA has a twelve month low of $16.02 and a twelve month high of $34.32.

Hedge Funds Weigh In On CEVA

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in 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 period. JPMorgan Chase & Co. raised its holdings in CEVA by 55.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock worth $2,801,000 after purchasing an additional 41,573 shares during the period. Franklin Resources Inc. raised its holdings in CEVA by 59.8% in the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company’s stock worth $842,000 after purchasing an additional 12,515 shares during the period. Tidal Investments LLC raised its holdings in CEVA by 4.6% during the third quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 808 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in CEVA during the third quarter valued at about $233,000. 85.37% of the stock is owned by institutional investors.

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.