AWM Investment Company Inc. Purchases Shares of 799,806 Ceva, Inc. $CEVA

Key Points

• AWM Investment Company acquired 799,806 Ceva shares worth approximately $37.7 million, making Ceva its sixth-largest holding and representing about 2.84% of the semiconductor company.
• Institutional interest increased, with Deutsche Bank, Oaktop Capital Management, GSA Capital Partners and others also establishing positions; hedge funds and institutions now own approximately 85.37% of Ceva.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $40.60. Ceva recently beat quarterly earnings and revenue estimates, reporting $0.08 EPS and $29.03 million in revenue, up 13% year over year.

AWM Investment Company Inc. bought a new stake in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 799,806 shares of the semiconductor company's stock, valued at approximately $37,719,000. Ceva comprises about 3.3% of AWM Investment Company Inc.'s holdings, making the stock its 6th biggest position. AWM Investment Company Inc. owned about 2.84% of Ceva at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CEVA. Hsbc Holdings PLC purchased a new position in Ceva during the fourth quarter worth approximately $777,000. Deutsche Bank AG acquired a new stake in shares of Ceva during the 2nd quarter worth $33,941,000. GSA Capital Partners LLP acquired a new stake in shares of Ceva during the 2nd quarter worth $1,512,000. Oaktop Capital Management II L.P. purchased a new position in shares of Ceva in the 2nd quarter worth $21,051,000. Finally, Rice Hall James & Associates LLC purchased a new position in shares of Ceva in the 2nd quarter worth $4,612,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CEVA shares. Needham & Company LLC cut their price objective on Ceva from $55.00 to $43.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. TD Cowen decreased their target price on Ceva from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Rosenblatt Securities increased their target price on Ceva from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ceva in a report on Monday, July 6th. Finally, Roth Capital reissued a "buy" rating and set a $40.00 price target on shares of Ceva in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ceva presently has a consensus rating of "Moderate Buy" and an average target price of $40.60.

Ceva Trading Up 1.5%

Shares of Ceva stock opened at $27.08 on Wednesday. The business's 50 day simple moving average is $38.15 and its 200-day simple moving average is $31.47. The stock has a market capitalization of $762.30 million, a price-to-earnings ratio of -67.70 and a beta of 1.99. Ceva, Inc. has a twelve month low of $17.02 and a twelve month high of $51.60.

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, topping analysts' consensus estimates of $0.07 by $0.01. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The business had revenue of $29.03 million for the quarter, compared to analysts' expectations of $28.19 million. During the same quarter last year, the company earned $0.07 EPS. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Ceva, Inc. will post -0.17 earnings per share for the current year.

Ceva Company 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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