Brokerages Set CEVA, Inc. (NASDAQ:CEVA) PT at $27.00

Shares of CEVA, Inc. (NASDAQ:CEVA) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $27.00.

Separately, Roth Mkm cut their target price on CEVA from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th.

CEVA Trading Up 1.1 %

Shares of NASDAQ:CEVA opened at $18.71 on Friday. The company has a market cap of $441.18 million, a PE ratio of -35.30 and a beta of 1.15. The company’s 50 day moving average is $19.84 and its two-hundred day moving average is $21.18. CEVA has a 52 week low of $16.38 and a 52 week high of $27.65.

CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, May 9th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.06). The business had revenue of $22.07 million during the quarter, compared to analysts’ expectations of $23.06 million. CEVA had a negative net margin of 12.91% and a negative return on equity of 5.70%. As a group, equities research analysts expect that CEVA will post -0.32 EPS for the current year.

Insider Activity

In other news, Director Louis Silver sold 3,934 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $20.72, for a total value of $81,512.48. Following the completion of the transaction, the director now owns 40,576 shares in the company, valued at approximately $840,734.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.40% of the company’s stock.

Institutional Trading of CEVA

A number of large investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new stake in CEVA during the 1st quarter worth $423,000. CANADA LIFE ASSURANCE Co boosted its stake in CEVA by 1,693.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock worth $7,284,000 after purchasing an additional 303,673 shares during the period. Acadian Asset Management LLC boosted its stake in CEVA by 67.9% during the 1st quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock worth $11,887,000 after purchasing an additional 211,697 shares during the period. Vanguard Group Inc. boosted its stake in CEVA by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after purchasing an additional 62,734 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in CEVA during the 1st quarter worth $245,000. Institutional investors and hedge funds 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.