CEVA (NASDAQ:CEVA) Raised to Outperform at Northland Securities

Northland Securities upgraded shares of CEVA (NASDAQ:CEVA) from a market perform rating to an outperform rating in a report published on Monday, BenzingaRatingsTable reports.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity restated a buy rating and set a $40.00 target price on shares of CEVA in a research note on Tuesday, February 18th. Cowen increased their price target on CEVA from $35.00 to $39.00 and gave the company an outperform rating in a research note on Wednesday, February 19th. BidaskClub upgraded CEVA from a sell rating to a hold rating in a research note on Wednesday, March 25th. Roth Capital increased their price target on CEVA to and gave the company a buy rating in a research note on Tuesday, February 18th. Finally, Barclays reaffirmed a hold rating and set a $33.00 target price on shares of CEVA in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. CEVA has an average rating of Buy and a consensus price target of $35.67.

NASDAQ:CEVA traded up $1.46 during trading hours on Monday, reaching $26.04. 155,900 shares of the company were exchanged, compared to its average volume of 140,009. The company has a market capitalization of $545.43 million, a P/E ratio of 186.00, a P/E/G ratio of 83.10 and a beta of 1.25. CEVA has a 1-year low of $20.45 and a 1-year high of $36.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.77 and a quick ratio of 6.77. The business has a 50 day moving average of $27.18 and a 200 day moving average of $27.88.

CEVA (NASDAQ:CEVA) last released its earnings results on Tuesday, February 18th. The semiconductor company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.08. CEVA had a return on equity of 1.23% and a net margin of 0.03%. The firm had revenue of $28.31 million during the quarter, compared to analysts’ expectations of $24.39 million. During the same period in the prior year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 32.3% on a year-over-year basis. As a group, equities research analysts anticipate that CEVA will post 0.01 earnings per share for the current fiscal year.

In other CEVA news, Director Bruce Mann sold 32,408 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $35.16, for a total transaction of $1,139,465.28. Following the completion of the sale, the director now directly owns 13,000 shares in the company, valued at approximately $457,080. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CEVA. Millennium Management LLC grew its stake in shares of CEVA by 741.8% in the 3rd quarter. Millennium Management LLC now owns 136,460 shares of the semiconductor company’s stock valued at $4,074,000 after buying an additional 120,250 shares during the period. Roubaix Capital LLC acquired a new stake in shares of CEVA in the 4th quarter valued at about $2,630,000. Goldman Sachs Group Inc. grew its stake in shares of CEVA by 111.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 92,521 shares of the semiconductor company’s stock valued at $2,494,000 after buying an additional 48,755 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in CEVA by 70.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 111,630 shares of the semiconductor company’s stock valued at $3,008,000 after acquiring an additional 46,001 shares in the last quarter. Finally, State Street Corp lifted its position in CEVA by 6.6% in the 4th quarter. State Street Corp now owns 735,682 shares of the semiconductor company’s stock valued at $19,834,000 after acquiring an additional 45,496 shares in the last quarter. Institutional investors own 80.63% of the company’s stock.

CEVA Company Profile

CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of-Things (IoT) markets worldwide. The company licenses a family of signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.

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Analyst Recommendations for CEVA (NASDAQ:CEVA)

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