Rice Hall James & Associates LLC bought a new stake in shares of Ceva, Inc. (NASDAQ:CEVA – Free Report) during the second quarter, Holdings Channel reports. The institutional investor bought 97,788 shares of the semiconductor company’s stock, valued at approximately $4,612,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. grew its holdings in Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 632 shares during the period. Global Retirement Partners LLC bought a new stake in Ceva in the second quarter valued at $49,000. Tower Research Capital LLC TRC raised its holdings in shares of Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,208 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Ceva by 771.8% during the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 2,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ceva by 47.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 2,172 shares in the last quarter. 85.37% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Wall Street Zen upgraded Ceva from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. initiated coverage on Ceva in a research note on Friday, May 8th. They set a “neutral” rating and a $30.00 price target on the stock. TD Cowen cut their price target on Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Benchmark reissued a “hold” rating on shares of Ceva in a research note on Tuesday, August 11th. Finally, UBS Group raised their price objective on Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ceva presently has an average rating of “Moderate Buy” and an average target price of $40.60.
Ceva Trading Down 1.7%
CEVA opened at $32.71 on Tuesday. Ceva, Inc. has a 1-year low of $17.02 and a 1-year high of $51.60. The company has a market cap of $920.79 million, a price-to-earnings ratio of -81.77 and a beta of 1.99. The company’s fifty day moving average price is $40.16 and its two-hundred day moving average price is $31.18.
Ceva (NASDAQ:CEVA – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $29.03 million during the quarter, compared to analysts’ expectations of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. As a group, equities analysts forecast that Ceva, Inc. will post -0.2 earnings per share for the current fiscal year.
Ceva Company Profile
Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.
Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.
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