Ceva, Inc. $CEVA Shares Bought by Needham Investment Management LLC

Needham Investment Management LLC increased its holdings in shares of Ceva, Inc. (NASDAQ:CEVA) by 16.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 160,000 shares of the semiconductor company’s stock after buying an additional 22,500 shares during the period. Needham Investment Management LLC’s holdings in Ceva were worth $3,443,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CEVA. Centaurus Financial Inc. lifted its stake in Ceva by 2.6% in the 3rd quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after purchasing an additional 550 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Ceva by 77.6% during 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. Sanctuary Advisors LLC increased its holdings in shares of Ceva by 7.1% during the 4th quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock worth $220,000 after buying an additional 674 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Ceva by 8.7% in the third quarter. Illinois Municipal Retirement Fund now owns 12,093 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 968 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Ceva by 15.4% during the fourth quarter. Intech Investment Management LLC now owns 9,415 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 1,258 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CEVA shares. UBS Group upped their price target on Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research note on Wednesday, April 8th. Oppenheimer increased their price objective on shares of Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. TD Cowen boosted their target price on Ceva from $24.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Needham & Company LLC began coverage on shares of Ceva in a research note on Monday. They set a “buy” rating and a $55.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Ceva Stock Up 5.3%

NASDAQ:CEVA opened at $48.45 on Tuesday. Ceva, Inc. has a 52-week low of $17.02 and a 52-week high of $51.25. The company has a market capitalization of $1.35 billion, a PE ratio of -107.67 and a beta of 2.00. The stock’s 50 day moving average price is $33.84 and its 200 day moving average price is $25.66.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 EPS 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 return on equity of 3.42% and a negative net margin of 10.47%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. As a group, sell-side analysts anticipate that Ceva, Inc. will post -0.21 EPS 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.