CEVA (NASDAQ:CEVA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm presently has a $39.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.07% from the stock’s current price.

According to Zacks, “CEVA is the leading licensor of signal processing IP for a smarter, connected world. They partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, industrial and IoT. Their ultra-low-power IPs for vision, audio, communications and connectivity include comprehensive DSP-based platforms for LTE/LTE-A/5G baseband processing in handsets, infrastructure and machine-to-machine devices, advanced imaging, computer vision and deep learning for any camera-enabled device, audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. “

A number of other research analysts have also recently issued reports on the stock. Oppenheimer reaffirmed a “hold” rating on shares of CEVA in a report on Monday, May 11th. ValuEngine cut shares of CEVA from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Roth Capital reaffirmed a “buy” rating on shares of CEVA in a report on Monday, May 11th. Northland Securities raised shares of CEVA from a “market perform” rating to an “outperform” rating in a report on Monday, March 30th. Finally, BidaskClub upgraded shares of CEVA from a “hold” rating to a “buy” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $36.83.

Shares of NASDAQ CEVA traded down $0.28 during midday trading on Monday, reaching $34.19. The company had a trading volume of 196,925 shares, compared to its average volume of 136,688. The business’s 50-day simple moving average is $30.87 and its 200 day simple moving average is $28.19. The stock has a market cap of $758.49 million, a P/E ratio of 683.80 and a beta of 1.38. CEVA has a 1 year low of $20.45 and a 1 year high of $36.79. The company has a current ratio of 6.56, a quick ratio of 6.56 and a debt-to-equity ratio of 0.03.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.06. The business had revenue of $23.60 million during the quarter, compared to analysts’ expectations of $21.52 million. CEVA had a net margin of 1.22% and a return on equity of 1.89%. The business’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter last year, the company posted $0.01 earnings per share. Analysts predict that CEVA will post -0.09 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of CEVA by 8.4% during the first quarter. HighTower Advisors LLC now owns 169,905 shares of the semiconductor company’s stock valued at $4,203,000 after acquiring an additional 13,098 shares during the last quarter. Phoenix Holdings Ltd. grew its holdings in shares of CEVA by 313.7% in the first quarter. Phoenix Holdings Ltd. now owns 52,474 shares of the semiconductor company’s stock valued at $1,271,000 after purchasing an additional 39,790 shares in the last quarter. Robertson Opportunity Capital LLC grew its holdings in CEVA by 20.1% during the 1st quarter. Robertson Opportunity Capital LLC now owns 150,000 shares of the semiconductor company’s stock worth $3,740,000 after acquiring an additional 25,122 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in CEVA during the 1st quarter worth approximately $582,000. Finally, Senvest Management LLC grew its holdings in CEVA by 237.4% during the 1st quarter. Senvest Management LLC now owns 131,311 shares of the semiconductor company’s stock worth $3,274,000 after acquiring an additional 92,391 shares in the last quarter. Hedge funds and other institutional investors own 79.27% of the company’s stock.

About CEVA

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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