Man Group plc acquired a new position in Ceva, Inc. (NASDAQ:CEVA – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 86,273 shares of the semiconductor company’s stock, valued at approximately $4,069,000. Man Group plc owned approximately 0.31% of Ceva as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of CEVA. BlackRock Inc. purchased a new position in shares of Ceva during the second quarter valued at approximately $113,995,000. AWM Investment Company Inc. bought a new stake in Ceva in the 2nd quarter worth approximately $37,719,000. Deutsche Bank AG purchased a new stake in Ceva during the 2nd quarter valued at $33,941,000. Millennium Management LLC boosted its stake in shares of Ceva by 2,735.2% in the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after buying an additional 574,592 shares during the last quarter. Finally, Defiance ETFs LLC bought a new stake in shares of Ceva in the fourth quarter worth $10,420,000. Institutional investors own 85.37% of the company’s stock.
Wall Street Analyst Weigh In
CEVA has been the subject of several recent research reports. UBS Group boosted their target price on shares of Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Monday, July 6th. TD Cowen decreased their target price on Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Roth Capital reiterated a “buy” rating and set a $40.00 target price on shares of Ceva in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Ceva from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ceva presently has a consensus rating of “Moderate Buy” and an average price target of $40.60.
Ceva Price Performance
Shares of CEVA stock opened at $27.12 on Monday. The company has a market capitalization of $763.43 million, a price-to-earnings ratio of -67.80 and a beta of 1.99. Ceva, Inc. has a one year low of $17.02 and a one year high of $51.60. The company’s fifty day moving average price is $36.93 and its 200-day moving average price is $31.59.
Ceva (NASDAQ:CEVA – Get Free Report) last released its earnings results on Monday, August 10th. The semiconductor company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $29.03 million for 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%. Ceva’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS. Equities research analysts expect that Ceva, Inc. will post -0.17 earnings per share for the current fiscal year.
Ceva 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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