36,068 Shares in Ceva, Inc. $CEVA Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC bought a new stake in Ceva during the fourth quarter, purchasing 36,068 shares valued at about $777,000. The position represented roughly 0.13% of Ceva.
• Ceva’s stock was trading up about 1.9% at $43.53, with a market cap of $1.21 billion. The shares have ranged from $17.02 to $51.60 over the past 12 months.
• The company reported better-than-expected quarterly earnings, posting EPS of $0.04 versus an estimate of $0.02 and revenue of $27.02 million, up 11.6% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $42.80.

Hsbc Holdings PLC purchased a new position in Ceva, Inc. (NASDAQ:CEVA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,068 shares of the semiconductor company's stock, valued at approximately $777,000. Hsbc Holdings PLC owned approximately 0.13% of Ceva as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CEVA. Senvest Management LLC raised its position in shares of Ceva by 8.0% during the fourth quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company's stock worth $51,380,000 after purchasing an additional 177,765 shares during the period. Neuberger Berman Group LLC grew its position in Ceva by 44.1% in the 4th quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company's stock valued at $21,505,000 after purchasing an additional 305,540 shares during the period. AWM Investment Company Inc. grew its position in Ceva by 24.1% in the 4th quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company's stock valued at $17,814,000 after purchasing an additional 160,644 shares during the period. Handelsbanken Fonder AB increased its stake in Ceva by 92.6% during the 4th quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company's stock valued at $14,730,000 after purchasing an additional 329,047 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its stake in Ceva by 40.6% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company's stock valued at $13,624,000 after purchasing an additional 179,098 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company's stock.

Ceva Trading Up 1.9%

Shares of CEVA opened at $43.53 on Wednesday. The stock has a 50 day moving average of $42.67 and a 200 day moving average of $29.08. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -96.73 and a beta of 1.96. Ceva, Inc. has a 12 month low of $17.02 and a 12 month high of $51.60.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $27.02 million for the quarter, compared to analysts' expectations of $26.12 million. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The business's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. As a group, equities research analysts predict that Ceva, Inc. will post -0.21 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on CEVA shares. Needham & Company LLC began coverage on shares of Ceva in a research note on Monday, June 15th. They issued a "buy" rating and a $55.00 price objective on the stock. TD Cowen boosted their target price on shares of Ceva from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday. Roth Capital restated a "buy" rating and issued a $40.00 target price on shares of Ceva in a report on Monday, May 11th. Stifel Nicolaus upped their target price on shares of Ceva from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Finally, Oppenheimer raised their price target on shares of Ceva from $30.00 to $42.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ceva presently has a consensus rating of "Moderate Buy" and an average target price of $42.80.

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.

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