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

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

Other research analysts have also issued research reports about the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of CEVA in a report on Tuesday, February 11th. Barclays boosted their price objective on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Northland Securities increased their target price on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $36.60.

CEVA Stock Up 1.8 %

NASDAQ CEVA opened at $28.87 on Monday. The firm has a market cap of $687.31 million, a P/E ratio of -78.02 and a beta of 1.32. The company’s 50 day moving average is $32.73 and its 200-day moving average is $29.38. CEVA has a 12-month low of $16.02 and a 12-month high of $38.94.

CEVA (NASDAQ:CEVA) last issued its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. Equities analysts expect that CEVA will post -0.12 EPS for the current year.

Insider Activity

In other news, Director Louis Silver sold 4,520 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the transaction, the director now directly owns 47,038 shares in the company, valued at approximately $1,457,237.24. This represents a 8.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. ArrowMark Colorado Holdings LLC grew its position in CEVA by 199.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company’s stock worth $8,035,000 after acquiring an additional 169,677 shares during the last quarter. Jane Street Group LLC lifted its position in CEVA by 206.2% in the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after purchasing an additional 92,295 shares during the last quarter. AWM Investment Company Inc. grew its holdings in shares of CEVA by 18.0% in the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company’s stock worth $18,935,000 after purchasing an additional 91,668 shares during the last quarter. Norges Bank purchased a new position in shares of CEVA in the fourth quarter worth $2,817,000. Finally, Algert Global LLC raised its holdings in CEVA by 383.5% during the 4th quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company’s stock valued at $2,875,000 after buying an additional 72,270 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

CEVA Company Profile

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.