Algert Global LLC Acquires 44,391 Shares of Ceva, Inc. $CEVA

Key Points

• Algert Global LLC increased its stake in Ceva, Inc. by 48.7%, owning approximately 0.57% of the company worth $3.47 million after acquiring additional shares.
• Ceva, Inc. reported earnings per share (EPS) of $0.07 for the last quarter, exceeding expectations, but suffered a 9.5% decline in year-over-year revenue.
• Institutional investors hold 85.37% of Ceva's stock, reflecting significant interest from large investment firms.

Algert Global LLC raised its position in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,504 shares of the semiconductor company's stock after acquiring an additional 44,391 shares during the quarter. Algert Global LLC owned approximately 0.57% of Ceva worth $3,470,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Ceva by 44.5% in the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after purchasing an additional 1,058 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ceva in the 1st quarter valued at approximately $225,000. Price T Rowe Associates Inc. MD bought a new position in Ceva in the 4th quarter valued at approximately $292,000. Two Sigma Securities LLC lifted its position in Ceva by 11.6% in the 4th quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company's stock valued at $297,000 after acquiring an additional 978 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in Ceva in the 4th quarter valued at approximately $457,000. 85.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CEVA has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Ceva in a research report on Thursday, August 14th. Barclays lowered their price target on Ceva from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, Oppenheimer lowered their price target on Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Ceva has a consensus rating of "Buy" and an average target price of $35.60.

Ceva Trading Down 2.8%

Ceva stock traded down $0.67 during trading on Monday, reaching $22.85. The company had a trading volume of 163,233 shares, compared to its average volume of 282,014. Ceva, Inc. has a 52 week low of $18.31 and a 52 week high of $38.94. The firm's 50-day simple moving average is $22.42 and its 200 day simple moving average is $24.71. The firm has a market capitalization of $545.70 million, a price-to-earnings ratio of -54.40 and a beta of 1.25.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its earnings results on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The company had revenue of $25.68 million for the quarter, compared to analysts' expectations of $25.33 million. During the same period last year, the firm earned $0.17 EPS. Ceva's revenue for the quarter was down 9.5% compared to the same quarter last year. On average, analysts predict that Ceva, Inc. will post -0.12 earnings per share for the current year.

About Ceva

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 - 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.