CEVA, Inc. (NASDAQ:CEVA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CEVA, Inc. (NASDAQ:CEVA) have received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $27.00.

Separately, Roth Mkm dropped their price objective on CEVA from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, May 10th.

Insider Activity

In related news, Director Louis Silver sold 3,934 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $20.72, for a total value of $81,512.48. Following the transaction, the director now owns 40,576 shares in the company, valued at $840,734.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CEVA

Several hedge funds have recently added to or reduced their stakes in CEVA. CANADA LIFE ASSURANCE Co boosted its holdings in CEVA by 1,693.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock valued at $7,284,000 after acquiring an additional 303,673 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in CEVA by 67.9% in the first quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock valued at $11,887,000 after acquiring an additional 211,697 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in CEVA by 13,776.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 180,947 shares of the semiconductor company’s stock worth $4,110,000 after buying an additional 179,643 shares during the last quarter. Trexquant Investment LP bought a new position in CEVA during the fourth quarter worth about $1,731,000. Finally, Vanguard Group Inc. boosted its holdings in CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after buying an additional 62,734 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

CEVA Stock Up 2.7 %

Shares of CEVA stock opened at $20.05 on Thursday. CEVA has a one year low of $16.38 and a one year high of $27.48. The stock has a fifty day moving average price of $19.74 and a 200 day moving average price of $20.83.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.06). CEVA had a negative return on equity of 5.70% and a negative net margin of 12.91%. The company had revenue of $22.07 million for the quarter, compared to analyst estimates of $23.06 million. On average, research analysts forecast that CEVA will post -0.32 EPS for the current fiscal year.

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.