CEVA (NASDAQ:CEVA) PT Raised to $33.00 at Oppenheimer

CEVA (NASDAQ:CEVA) had its price objective hoisted by Oppenheimer from $29.00 to $33.00 in a report issued on Thursday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Separately, Roth Mkm raised shares of CEVA from a neutral rating to a buy rating and lifted their price objective for the company from $20.00 to $25.00 in a research note on Thursday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CEVA has a consensus rating of Moderate Buy and a consensus price target of $28.50.

CEVA Stock Down 0.1 %

CEVA stock opened at $20.44 on Thursday. The company’s fifty day simple moving average is $19.55 and its 200-day simple moving average is $20.72. CEVA has a 12 month low of $16.02 and a 12 month high of $25.19. The stock has a market cap of $481.98 million, a P/E ratio of -38.57 and a beta of 1.15.

CEVA (NASDAQ:CEVA) last posted its quarterly 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). CEVA had a negative net margin of 12.91% and a negative return on equity of 5.70%. The company had revenue of $22.07 million for the quarter, compared to analysts’ expectations of $23.06 million. On average, equities research analysts expect that CEVA will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in shares of 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. CANADA LIFE ASSURANCE Co increased its holdings in shares of 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. Vanguard Group Inc. increased its holdings in shares of 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. Dynamic Technology Lab Private Ltd bought a new position in shares of CEVA during the 4th quarter worth about $358,000. Finally, Trexquant Investment LP bought a new position in shares of CEVA during the 4th quarter worth about $1,731,000. Institutional investors and hedge funds 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.