CEVA (NASDAQ:CEVA) Upgraded to “Buy” by Roth Mkm

Roth Mkm upgraded shares of CEVA (NASDAQ:CEVA) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat.com reports. Roth Mkm currently has $25.00 target price on the semiconductor company’s stock, up from their prior target price of $20.00.

CEVA Price Performance

NASDAQ CEVA traded down $0.02 during trading hours on Thursday, reaching $20.44. 603,157 shares of the company’s stock traded hands, compared to its average volume of 144,380. CEVA has a 52-week low of $16.02 and a 52-week high of $25.19. The firm has a market cap of $482.02 million, a PE ratio of -38.45 and a beta of 1.15. The firm has a 50-day simple moving average of $19.54 and a 200 day simple moving average of $20.73.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. The company had revenue of $28.44 million during the quarter, compared to analysts’ expectations of $24.47 million. CEVA had a negative net margin of 12.91% and a negative return on equity of 5.70%. Sell-side analysts forecast that CEVA will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at CEVA

In other news, Director Louis Silver sold 3,934 shares of CEVA stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $20.72, for a total value of $81,512.48. Following the completion of the sale, the director now directly owns 40,576 shares in the company, valued at $840,734.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by company insiders.

Institutional Trading of CEVA

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock valued at $67,428,000 after buying an additional 62,734 shares during the period. Dimensional Fund Advisors LP grew its position in CEVA by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock valued at $16,110,000 after buying an additional 44,502 shares during the period. Acadian Asset Management LLC grew its position in CEVA by 8.3% during the second quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after buying an additional 43,266 shares during the period. CANADA LIFE ASSURANCE Co grew its position in CEVA by 1,693.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock valued at $7,284,000 after buying an additional 303,673 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in CEVA by 13,776.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 180,947 shares of the semiconductor company’s stock valued at $4,110,000 after purchasing an additional 179,643 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

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.