Bank of America Corp DE raised its holdings in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 112.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,996 shares of the semiconductor company's stock after purchasing an additional 42,878 shares during the quarter. Bank of America Corp DE owned 0.29% of Ceva worth $1,513,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CEVA. Hsbc Holdings PLC purchased a new position in shares of Ceva during the 4th quarter valued at approximately $777,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in Ceva during the fourth quarter valued at $603,000. Aster Capital Management DIFC Ltd acquired a new stake in Ceva during the fourth quarter valued at $497,000. Rice Hall James & Associates LLC increased its holdings in Ceva by 3.9% in the first quarter. Rice Hall James & Associates LLC now owns 419,388 shares of the semiconductor company's stock valued at $7,834,000 after buying an additional 15,632 shares in the last quarter. Finally, Needham Investment Management LLC raised its position in shares of Ceva by 16.4% in the fourth quarter. Needham Investment Management LLC now owns 160,000 shares of the semiconductor company's stock worth $3,443,000 after acquiring an additional 22,500 shares during the period. 85.37% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on CEVA shares. Oppenheimer cut their price target on Ceva from $42.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, August 11th. Stifel Nicolaus upped their target price on Ceva from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ceva in a research note on Monday, July 6th. Benchmark restated a "hold" rating on shares of Ceva in a report on Tuesday, August 11th. Finally, Needham & Company LLC decreased their target price on shares of Ceva from $55.00 to $43.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.
Check Out Our Latest Stock Analysis on CEVA
Ceva Trading Up 0.7%
NASDAQ CEVA opened at $26.44 on Friday. The stock has a market cap of $744.29 million, a PE ratio of -66.10 and a beta of 1.97. Ceva, Inc. has a twelve month low of $17.02 and a twelve month high of $51.60. The stock has a fifty day simple moving average of $35.39 and a 200-day simple moving average of $31.69.
Ceva (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $29.03 million for the quarter, compared to analyst estimates of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. Ceva's revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. Research analysts predict that Ceva, Inc. will post -0.17 EPS for the current year.
Ceva Company Profile
(
Free Report)
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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