CEVA, Inc. (NASDAQ:CEVA) Given Consensus Recommendation of “Buy” by Brokerages

CEVA, Inc. (NASDAQ:CEVA) has received a consensus rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $34.20.

CEVA has been the topic of several research analyst reports. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Roth Mkm raised their price objective on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Northland Securities raised 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. Finally, Rosenblatt Securities upped their price objective on CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

CEVA Stock Performance

CEVA stock opened at $31.11 on Monday. The company has a market capitalization of $735.04 million, a PE ratio of -222.20 and a beta of 1.27. CEVA has a fifty-two week low of $16.02 and a fifty-two week high of $33.44. The firm has a 50 day moving average price of $27.90 and a 200 day moving average price of $23.82.

Hedge Funds Weigh In On CEVA

A number of institutional investors and hedge funds have recently modified their holdings of CEVA. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CEVA by 97.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after acquiring an additional 104,453 shares during the last quarter. Jane Street Group LLC lifted its position in shares of CEVA by 206.2% during the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock worth $3,310,000 after buying an additional 92,295 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of CEVA in the 3rd quarter valued at $2,053,000. D.A. Davidson & CO. purchased a new position in shares of CEVA in the 3rd quarter valued at $1,343,000. Finally, Squarepoint Ops LLC purchased a new position in shares of CEVA during the second quarter worth about $892,000. 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.