CEVA (NASDAQ:CEVA) Upgraded by StockNews.com to “Buy” Rating

CEVA (NASDAQ:CEVA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

CEVA has been the topic of several other research reports. Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $25.00 in a research note on Thursday, August 8th. Oppenheimer upped their price objective on CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 price objective on shares of CEVA in a research note on Thursday, October 31st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $28.50.

CEVA Trading Up 16.5 %

Shares of CEVA stock traded up $4.16 during trading on Thursday, hitting $29.34. The company’s stock had a trading volume of 377,966 shares, compared to its average volume of 150,729. The company has a market cap of $694.95 million, a PE ratio of -101.17 and a beta of 1.20. The business has a fifty day moving average of $24.15 and a 200-day moving average of $21.62. CEVA has a 52 week low of $16.02 and a 52 week high of $29.86.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.14. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. The business had revenue of $28.44 million for the quarter, compared to the consensus estimate of $24.47 million. As a group, research analysts predict that CEVA will post -0.31 EPS for the current year.

Institutional Investors Weigh In On CEVA

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE lifted its position in shares of CEVA by 125.8% during the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 779 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of CEVA by 338.9% during the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 1,125 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of CEVA in the second quarter worth $43,000. nVerses Capital LLC purchased a new stake in shares of CEVA in the second quarter worth $50,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of CEVA in the second quarter worth $65,000. Hedge funds and other 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.