Capitolis Liquid Global Markets LLC Boosts Holdings in Ceva, Inc. $CEVA

Key Points

• Capitolis Liquid Global Markets LLC increased its stake in Ceva by 38.8% in Q3, holding 492,725 shares (about 2.05% of the company) valued at roughly $13.01 million after buying an additional 137,800 shares.
• Analysts are mostly positive—six Buy ratings vs one Sell—with a consensus "Moderate Buy" target price of $31.67, versus the recent share price around $18.24, implying meaningful upside.
• In the latest quarter Ceva reported EPS $0.18 (met estimates) and revenue of $31.29 million, up 7.1% year-over-year, but the company remains unprofitable with a net margin of -9.71%.

Capitolis Liquid Global Markets LLC grew its stake in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 38.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 492,725 shares of the semiconductor company's stock after purchasing an additional 137,800 shares during the quarter. Capitolis Liquid Global Markets LLC owned approximately 2.05% of Ceva worth $13,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Penserra Capital Management LLC acquired a new position in shares of Ceva during the 3rd quarter worth about $11,410,000. Handelsbanken Fonder AB boosted its holdings in Ceva by 1,287.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company's stock worth $9,387,000 after buying an additional 329,802 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in Ceva in the 2nd quarter worth about $4,833,000. Westerly Capital Management LLC purchased a new stake in Ceva during the 2nd quarter worth approximately $3,956,000. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of Ceva by 40.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company's stock valued at $13,624,000 after acquiring an additional 179,098 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CEVA shares. UBS Group started coverage on Ceva in a research report on Wednesday, February 25th. They issued a "buy" rating and a $27.00 target price on the stock. Loop Capital assumed coverage on Ceva in a research report on Monday, December 1st. They set a "buy" rating and a $28.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Ceva in a research note on Friday, January 9th. Rosenblatt Securities restated a "buy" rating and issued a $40.00 price objective on shares of Ceva in a report on Thursday. Finally, Stifel Nicolaus initiated coverage on shares of Ceva in a research note on Tuesday, February 10th. They set a "buy" rating and a $30.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ceva presently has an average rating of "Moderate Buy" and a consensus target price of $31.67.

Ceva Price Performance

CEVA opened at $18.24 on Friday. The firm has a market capitalization of $506.23 million, a price-to-earnings ratio of -42.42 and a beta of 1.49. The company's 50 day simple moving average is $21.59 and its two-hundred day simple moving average is $23.38. Ceva, Inc. has a 1-year low of $17.92 and a 1-year high of $31.28.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The business had revenue of $31.29 million during the quarter, compared to analyst estimates of $31.03 million. During the same period in the prior year, the business earned $0.11 earnings per share. The business's revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

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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