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

StockNews.com upgraded shares of CEVA (NASDAQ:CEVA) from a hold rating to a buy rating in a research note published on Monday morning.

CEVA has been the subject of a number of other research reports. Barclays upped their price objective on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Rosenblatt Securities restated a “buy” rating and issued a $35.00 price target on shares of CEVA in a research note on Tuesday, February 11th. Finally, Northland Securities lifted their price objective on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CEVA currently has a consensus rating of “Buy” and an average price target of $36.60.

CEVA Trading Down 2.5 %

NASDAQ CEVA opened at $27.41 on Monday. CEVA has a 12 month low of $16.02 and a 12 month high of $38.94. The stock has a market cap of $652.55 million, a price-to-earnings ratio of -74.08 and a beta of 1.32. The company’s 50 day moving average is $32.51 and its two-hundred day moving average is $29.41.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. Sell-side analysts forecast that CEVA will post -0.12 EPS for the current year.

Insider Buying and Selling at CEVA

In related news, Director Louis Silver sold 4,520 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the sale, the director now owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CEVA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC lifted its holdings in shares of CEVA by 206.2% in the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after acquiring an additional 92,295 shares during the last quarter. JPMorgan Chase & Co. raised its position in CEVA by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock valued at $2,801,000 after purchasing an additional 41,573 shares during the period. Barclays PLC lifted its stake in shares of CEVA by 389.8% in the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock valued at $1,011,000 after purchasing an additional 33,346 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CEVA by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock valued at $5,385,000 after purchasing an additional 16,463 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of CEVA by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company’s stock worth $13,505,000 after purchasing an additional 3,649 shares during the period. 85.37% of the stock is owned by hedge funds and other institutional investors.

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.