50,374 Shares in Ceva, Inc. $CEVA Bought by Centaurus Financial Inc.

Key Points

• Centaurus Financial initiated a position in Ceva by purchasing 50,374 shares valued at approximately $2.38 million, while institutional ownership reached 85.37%.
• Ceva reported quarterly earnings of $0.08 per share and revenue of $29.03 million, beating analyst expectations; revenue increased 13% year over year despite negative net margins.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $40.60, although CEVA shares recently traded at $28.42.

Centaurus Financial Inc. bought a new position in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 50,374 shares of the semiconductor company's stock, valued at approximately $2,376,000. Centaurus Financial Inc. owned 0.18% of Ceva at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Ceva during the second quarter worth $113,995,000. AWM Investment Company Inc. bought a new stake in Ceva during the second quarter valued at $37,719,000. Deutsche Bank AG bought a new position in shares of Ceva in the 2nd quarter worth about $33,941,000. Millennium Management LLC increased its holdings in Ceva by 2,735.2% in the fourth quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company's stock worth $12,817,000 after purchasing an additional 574,592 shares in the last quarter. Finally, Defiance ETFs LLC acquired a new position in Ceva in the fourth quarter valued at approximately $10,420,000. Institutional investors own 85.37% of the company's stock.

Ceva Trading Up 2.9%

Shares of CEVA stock opened at $28.42 on Friday. The firm has a fifty day simple moving average of $37.38 and a two-hundred day simple moving average of $31.56. Ceva, Inc. has a 12 month low of $17.02 and a 12 month high of $51.60. The firm has a market capitalization of $800.02 million, a PE ratio of -71.05 and a beta of 1.99.

Ceva (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $29.03 million for the quarter, compared to analyst estimates of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. On average, equities analysts predict that Ceva, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on CEVA shares. UBS Group lifted their price objective on shares of Ceva from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Stifel Nicolaus raised their price target on shares of Ceva from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Roth Capital restated a "buy" rating and issued a $40.00 price target on shares of Ceva in a report on Monday, May 11th. Rosenblatt Securities lifted their price target on shares of Ceva from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Finally, TD Cowen dropped their price objective on shares of Ceva from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $40.60.

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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