CEVA (NASDAQ:CEVA) Price Target Raised to $40.00

CEVA (NASDAQ:CEVA) had its target price hoisted by Barclays from $34.00 to $40.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Northland Securities lifted their price target 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. Rosenblatt Securities reiterated a “buy” rating and set a $35.00 price target on shares of CEVA in a research report on Tuesday. Finally, Roth Mkm lifted their price target on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, CEVA has a consensus rating of “Moderate Buy” and an average price target of $35.17.

CEVA Stock Performance

Shares of NASDAQ:CEVA opened at $34.67 on Friday. CEVA has a 52 week low of $16.02 and a 52 week high of $37.75. The company has a 50-day moving average price of $32.52 and a 200 day moving average price of $27.28.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) EPS 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%. On average, research analysts forecast that CEVA will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of CEVA by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,165,300 shares of the semiconductor company’s stock worth $68,315,000 after purchasing an additional 24,313 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CEVA by 0.7% during 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 last quarter. Rice Hall James & Associates LLC raised its position in shares of CEVA by 5.5% during the 3rd quarter. Rice Hall James & Associates LLC now owns 452,541 shares of the semiconductor company’s stock worth $10,929,000 after purchasing an additional 23,566 shares during the last quarter. Northern Trust Corp raised its position in shares of CEVA by 14.3% during the 4th quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company’s stock worth $8,530,000 after purchasing an additional 33,737 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CEVA by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company’s stock worth $7,154,000 after purchasing an additional 3,783 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

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.