Barclays Raises CEVA (NASDAQ:CEVA) Price Target to $40.00

CEVA (NASDAQ:CEVA) had its price target lifted by Barclays from $34.00 to $40.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s price objective suggests a potential upside of 15.37% from the stock’s previous close.

A number of other equities research analysts have also recently commented on CEVA. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price target on shares of CEVA in a research note on Tuesday, February 11th. Northland Securities lifted 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. Roth Mkm upped their price target on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CEVA presently has an average rating of “Moderate Buy” and an average target price of $36.60.

CEVA Price Performance

NASDAQ:CEVA opened at $34.67 on Friday. The company has a 50-day moving average of $32.58 and a 200 day moving average of $27.43. CEVA has a 1-year low of $16.02 and a 1-year high of $37.75. The firm has a market cap of $819.25 million, a PE ratio of -247.63 and a beta of 1.25.

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

Institutional Trading of CEVA

Several large investors have recently made changes to their positions in the business. Northern Trust Corp boosted its holdings in CEVA by 14.3% in the fourth quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company’s stock valued at $8,530,000 after purchasing an additional 33,737 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of CEVA in the fourth quarter worth about $596,000. Two Sigma Securities LLC grew its holdings in CEVA by 11.6% during the fourth quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 978 shares during the period. Hood River Capital Management LLC purchased a new position in CEVA during the fourth quarter valued at approximately $473,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in CEVA in the fourth quarter valued at approximately $292,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

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.