AWM Investment Company Inc. Raises Stake in Ceva, Inc. $CEVA

Key Points

• AWM Investment Company Inc. increased its stake in Ceva, Inc. by 2.5%, owning 615,162 shares worth approximately $15.8 million, making it the firm's 11th biggest position.
• Several institutional investors, including Invesco Ltd. and GAMMA Investing LLC, have also significantly increased their holdings in Ceva during the first quarter.
• Ceva reported quarterly earnings of $0.07 per share, exceeding analyst estimates, though its revenue was down 9.5% year-over-year, leading to predictions of a negative earnings per share for the current year.

AWM Investment Company Inc. raised its stake in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 615,162 shares of the semiconductor company's stock after buying an additional 15,000 shares during the period. Ceva comprises about 2.2% of AWM Investment Company Inc.'s investment portfolio, making the stock its 11th biggest position. AWM Investment Company Inc. owned 2.57% of Ceva worth $15,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the business. PEAK6 LLC purchased a new position in Ceva in the 1st quarter worth $256,000. Algert Global LLC raised its position in Ceva by 48.7% in the 1st quarter. Algert Global LLC now owns 135,504 shares of the semiconductor company's stock worth $3,470,000 after purchasing an additional 44,391 shares during the period. American Century Companies Inc. raised its position in Ceva by 18.2% in the 1st quarter. American Century Companies Inc. now owns 51,735 shares of the semiconductor company's stock worth $1,325,000 after purchasing an additional 7,969 shares during the period. Russell Investments Group Ltd. raised its position in Ceva by 10,477.9% in the 1st quarter. Russell Investments Group Ltd. now owns 43,581 shares of the semiconductor company's stock worth $1,116,000 after purchasing an additional 43,169 shares during the period. Finally, Informed Momentum Co LLC purchased a new position in Ceva in the 1st quarter worth $2,023,000. Hedge funds and other institutional investors own 85.37% of the company's stock.

Analyst Ratings Changes

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

Ceva Stock Up 2.3%

Shares of NASDAQ:CEVA traded up $0.52 on Monday, hitting $23.25. The company had a trading volume of 73,305 shares, compared to its average volume of 280,085. The firm's 50-day simple moving average is $22.61 and its two-hundred day simple moving average is $23.96. Ceva, Inc. has a 1 year low of $18.31 and a 1 year high of $38.94. The firm has a market capitalization of $555.21 million, a price-to-earnings ratio of -55.34 and a beta of 1.26.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its earnings results on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $25.33 million. During the same period last year, the company posted $0.17 EPS. The company's quarterly revenue was down 9.5% compared to the same quarter last year. Equities research analysts anticipate that Ceva, Inc. will post -0.12 EPS 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.