CEVA’s (CEVA) Buy Rating Reaffirmed at Rosenblatt Securities

CEVA (NASDAQ:CEVA)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $28.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 18.24% from the stock’s current price.

Other research analysts have also issued research reports about the company. Oppenheimer upped their price objective on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $25.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.50.

CEVA Stock Performance

Shares of CEVA stock opened at $23.68 on Thursday. CEVA has a fifty-two week low of $16.02 and a fifty-two week high of $25.74. The firm has a market capitalization of $560.98 million, a P/E ratio of -81.65 and a beta of 1.19. The stock’s fifty day moving average is $24.01 and its two-hundred day moving average is $21.45.

CEVA (NASDAQ:CEVA) last posted its earnings results 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. The firm had revenue of $28.44 million during 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, equities analysts forecast that CEVA will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CEVA. 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 acquiring an additional 779 shares during the period. GAMMA Investing LLC boosted its position in shares of CEVA by 338.9% in the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after buying an additional 1,125 shares during the period. Point72 DIFC Ltd acquired a new stake in CEVA during the second quarter valued at $43,000. nVerses Capital LLC acquired a new stake in CEVA during the second quarter valued at $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in CEVA during the second quarter valued at about $65,000. Institutional investors own 85.37% of the company’s stock.

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.