Ceva (NASDAQ:CEVA) Stock Gets Downgrade from Wall Street Zen

by · The Markets Daily

Ceva (NASDAQ:CEVA – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

CEVA has been the topic of a number of other research reports. Stifel Nicolaus lifted their price objective on shares of Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Friday, October 2nd. Benchmark upgraded shares of Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Oppenheimer lowered their price target on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Finally, Needham & Company LLC dropped their price target on shares of Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Read Our Latest Research Report on CEVA

Ceva Stock Performance

Shares of NASDAQ:CEVA opened at $33.49 on Friday. The company has a market cap of $942.74 million, a P/E ratio of -83.72 and a beta of 1.93. Ceva has a one year low of $17.02 and a one year high of $51.60. The business’s 50-day simple moving average is $31.19 and its 200 day simple moving average is $33.93.

Ceva (NASDAQ:CEVA – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The firm had revenue of $29.03 million for the quarter, compared to analyst estimates of $28.19 million. During the same period in the previous year, the company posted $0.07 EPS. Ceva’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts predict that Ceva will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Ceva during the second quarter worth approximately $113,995,000. AWM Investment Company Inc. bought a new stake in shares of Ceva in the second quarter worth $37,719,000. Deutsche Bank AG bought a new position in Ceva during the 2nd quarter valued at $33,941,000. Oaktop Capital Management II L.P. bought a new position in Ceva during the 2nd quarter valued at $21,051,000. Finally, Rice Hall James & Associates LLC boosted its stake in Ceva by 0.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 403,756 shares of the semiconductor company’s stock valued at $8,689,000 after acquiring an additional 1,234 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

About Ceva

(Get Free Report)

CEVA, Inc is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and sensing technologies. Its products are designed for integration into system-on-chip devices used in mobile, consumer, automotive, industrial and Internet of Things applications.

The company’s portfolio includes digital signal processors and specialized processor architectures for artificial intelligence, computer vision, audio, imaging and communications. CEVA also offers intellectual property for wireless technologies such as 5G, Wi-Fi, Bluetooth and ultra-wideband, as well as platforms supporting sensor fusion and edge computing.

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