107,000 Shares in Ceva, Inc. $CEVA Purchased by Ardsley Advisory Partners LP

Key Points

• Ardsley Advisory Partners LP invested $2.74 million in Ceva, Inc. by acquiring 107,000 shares, representing a 0.45% ownership stake in the company.
• Ceva's stock has experienced a recent decline, currently trading at $21.83, down 1.8%, with a market cap of $521.30 million.
• Analysts have mixed views on Ceva, with target prices ranging from $30.00 to $40.00 and an average rating of "Buy" based on five analysts' assessments.

Ardsley Advisory Partners LP purchased a new stake in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 107,000 shares of the semiconductor company's stock, valued at approximately $2,740,000. Ardsley Advisory Partners LP owned 0.45% of Ceva as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in Ceva during the first quarter valued at about $922,000. Price T Rowe Associates Inc. MD purchased a new stake in Ceva in the fourth quarter valued at approximately $292,000. GAMMA Investing LLC raised its stake in shares of Ceva by 44.5% during the first quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after acquiring an additional 1,058 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Ceva by 75.8% in the first quarter. Invesco Ltd. now owns 148,459 shares of the semiconductor company's stock worth $3,802,000 after purchasing an additional 64,033 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Ceva by 2.3% in the first quarter. Principal Financial Group Inc. now owns 117,894 shares of the semiconductor company's stock worth $3,019,000 after purchasing an additional 2,629 shares during the last quarter. Institutional investors own 85.37% of the company's stock.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities restated a "buy" rating and issued a $40.00 target price on shares of Ceva in a report on Thursday, August 14th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $35.60.

Ceva Stock Up 2.3%

Shares of CEVA stock traded up $0.52 during mid-day trading on Monday, reaching $23.25. 73,305 shares of the company's stock traded hands, compared to its average volume of 280,085. Ceva, Inc. has a 12 month low of $18.31 and a 12 month high of $38.94. The company has a market cap of $555.19 million, a P/E ratio of -55.34 and a beta of 1.26. The company's 50-day moving average price is $22.61 and its 200-day moving average price is $23.96.

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, beating analysts' consensus estimates of $0.05 by $0.02. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. The firm had revenue of $25.68 million for the quarter, compared to analysts' expectations of $25.33 million. During the same quarter in the previous year, the business posted $0.17 EPS. The company's quarterly revenue was down 9.5% on a year-over-year basis. Equities analysts predict that Ceva, Inc. will post -0.12 earnings per share for the current year.

Ceva Company Profile

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.