CEVA (NASDAQ:CEVA) Price Target Raised to $40.00

CEVA (NASDAQ:CEVA) had its target price hoisted by Roth Mkm from $25.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s target price would suggest a potential upside of 41.49% from the stock’s previous close.

CEVA has been the topic of several other research reports. Oppenheimer boosted their price objective on shares of CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com raised CEVA from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of CEVA in a research report on Thursday, October 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $34.00.

CEVA Stock Down 3.6 %

Shares of CEVA stock opened at $28.27 on Friday. The business has a 50 day moving average of $24.24 and a 200 day moving average of $21.70. CEVA has a 52 week low of $16.02 and a 52 week high of $30.00. The company has a market cap of $669.72 million, a PE ratio of -97.48 and a beta of 1.20.

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, beating the consensus estimate of ($0.13) by $0.14. The business had revenue of $28.44 million for the quarter, compared to analysts’ expectations of $24.47 million. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. On average, research analysts anticipate that CEVA will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On CEVA

Hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of CEVA by 1,693.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock worth $7,284,000 after acquiring an additional 303,673 shares during the period. Acadian Asset Management LLC boosted its position in CEVA by 67.9% in the first quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock worth $11,887,000 after purchasing an additional 211,697 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CEVA by 97.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after purchasing an additional 104,453 shares during the period. Vanguard Group Inc. increased its position in shares of CEVA by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock valued at $67,428,000 after purchasing an additional 62,734 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of CEVA in the second quarter worth approximately $892,000. 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.