Rice Hall James & Associates LLC Buys 15,632 Shares of Ceva, Inc. $CEVA

Rice Hall James & Associates LLC increased its stake in Ceva, Inc. (NASDAQ:CEVAFree Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 419,388 shares of the semiconductor company’s stock after buying an additional 15,632 shares during the quarter. Rice Hall James & Associates LLC owned about 1.51% of Ceva worth $7,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its position in Ceva by 77.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 632 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Ceva by 422.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 2,208 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Ceva by 771.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 2,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 during the period. Finally, Intech Investment Management LLC grew its holdings in Ceva by 15.4% during the 4th quarter. Intech Investment Management LLC now owns 9,415 shares of the semiconductor company’s stock valued at $203,000 after purchasing an additional 1,258 shares during the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

Ceva Price Performance

Shares of CEVA stock opened at $36.35 on Friday. The company has a market capitalization of $1.01 billion, a P/E ratio of -80.78 and a beta of 1.96. The company’s 50-day simple moving average is $43.08 and its two-hundred day simple moving average is $29.99. Ceva, Inc. has a one year low of $17.02 and a one year high of $51.60.

Ceva (NASDAQ:CEVAGet Free Report) last posted its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.12 million. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, research analysts expect that Ceva, Inc. will post -0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Oppenheimer raised their price objective on shares of Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Stifel Nicolaus upped their target price on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Roth Capital reiterated a “buy” rating and issued a $40.00 price target on shares of Ceva in a report on Monday, May 11th. TD Cowen raised their price target on Ceva from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Benchmark began coverage on Ceva in a report on Wednesday, July 15th. They set a “hold” rating for the company. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

Check Out Our Latest Stock Analysis on Ceva

Ceva Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ceva (NASDAQ:CEVA)

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