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

CEVA (NASDAQ:CEVA) had its price target lifted by Barclays from $34.00 to $40.00 in a research note published on Friday,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

Several other analysts have also recently issued reports on the company. Roth Mkm increased their price objective 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 cut CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of CEVA in a research note on Tuesday. Finally, Northland Securities raised their price target on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.17.

CEVA Stock Performance

NASDAQ:CEVA opened at $34.67 on Friday. The stock’s fifty day moving average is $32.52 and its two-hundred day moving average is $27.28. CEVA has a 52 week low of $16.02 and a 52 week high of $37.75.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.69% and a negative net margin of 3.22%. Equities research analysts predict that CEVA will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On CEVA

Several hedge funds have recently made changes to their positions in CEVA. SG Americas Securities LLC purchased a new position in shares of CEVA during the third quarter worth about $296,000. GAMMA Investing LLC grew its holdings 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 purchasing an additional 1,125 shares during the last quarter. Creative Planning purchased a new position in shares of CEVA during the third quarter worth about $503,000. US Bancorp DE grew its holdings 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 purchasing an additional 779 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in shares of CEVA by 5.5% during the third quarter. Rice Hall James & Associates LLC now owns 452,541 shares of the semiconductor company’s stock worth $10,929,000 after purchasing an additional 23,566 shares during the last quarter. 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.