Vanguard Group Inc. Cuts Stock Position in Ceva, Inc. $CEVA

Vanguard Group Inc. lessened its stake in Ceva, Inc. (NASDAQ:CEVA) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,365,091 shares of the semiconductor company’s stock after selling 88,930 shares during the quarter. Vanguard Group Inc. owned 0.10% of Ceva worth $50,897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CEVA. American Century Companies Inc. grew its stake in Ceva by 3.1% in the second quarter. American Century Companies Inc. now owns 53,354 shares of the semiconductor company’s stock valued at $1,173,000 after purchasing an additional 1,619 shares during the last quarter. Norges Bank purchased a new position in Ceva in the second quarter valued at about $495,000. Invesco Ltd. boosted its holdings in Ceva by 8.5% in the second quarter. Invesco Ltd. now owns 161,116 shares of the semiconductor company’s stock worth $3,541,000 after acquiring an additional 12,657 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Ceva by 243.9% in the second quarter. Qube Research & Technologies Ltd now owns 93,103 shares of the semiconductor company’s stock worth $2,046,000 after acquiring an additional 66,032 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Ceva by 835.6% in the second quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock worth $1,894,000 after acquiring an additional 76,942 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Stock Down 3.9%

Ceva stock opened at $36.51 on Friday. Ceva, Inc. has a 52 week low of $17.02 and a 52 week high of $39.94. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -81.13 and a beta of 1.94. The stock has a 50-day moving average price of $23.80 and a 200 day moving average price of $22.98.

Ceva (NASDAQ:CEVA) last released its earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The firm had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.12 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Ceva, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

CEVA has been the subject of several recent analyst reports. UBS Group raised their price target on Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer raised their price target on Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday. Stifel Nicolaus set a $42.00 price target on Ceva in a report on Tuesday. Roth Mkm reissued a “buy” rating and issued a $40.00 price target on shares of Ceva in a report on Monday. Finally, TD Cowen raised their price target on Ceva from $24.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ceva currently has an average rating of “Moderate Buy” and an average target price of $39.44.

About Ceva

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.