Ceva, Inc. $CEVA Stock Acquired by Moody Aldrich Partners LLC

Key Points

• Moody Aldrich Partners increased its Ceva stake by 59.2% in the third quarter, bringing its holdings to 121,324 shares valued at approximately $4.29 million. Institutional investors and hedge funds collectively own 85.37% of CEVA.
• Ceva reported quarterly revenue of $29.03 million, up 13% year over year, and EPS of $0.08, exceeding the $0.07 analyst consensus. However, the company posted a negative net margin and analysts expect a full-year loss of $0.17 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $39.60, despite several firms recently lowering their targets.

Moody Aldrich Partners LLC grew its holdings in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) by 59.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,324 shares of the semiconductor company's stock after acquiring an additional 45,138 shares during the period. Moody Aldrich Partners LLC owned 0.43% of Ceva worth $4,286,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CEVA. Sterling Capital Management LLC boosted its position in shares of Ceva by 492.6% during the 3rd quarter. Sterling Capital Management LLC now owns 877 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 729 shares in the last quarter. Inspire Investing LLC increased its holdings in Ceva by 28.2% in the third quarter. Inspire Investing LLC now owns 18,257 shares of the semiconductor company's stock worth $645,000 after purchasing an additional 4,011 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Ceva by 771.7% in the third quarter. SBI Securities Co. Ltd. now owns 1,970 shares of the semiconductor company's stock worth $70,000 after purchasing an additional 1,744 shares in the last quarter. Oakmont Investment Advisors Inc. acquired a new position in Ceva in the third quarter valued at approximately $705,000. Finally, State of Alaska Department of Revenue acquired a new position in Ceva in the third quarter valued at approximately $62,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Price Performance

Shares of Ceva stock opened at $32.37 on Thursday. Ceva, Inc. has a one year low of $17.02 and a one year high of $51.60. The firm has a market capitalization of $911.22 million, a price-to-earnings ratio of -80.92 and a beta of 1.93. The business has a 50-day simple moving average of $30.43 and a 200 day simple moving average of $30.41.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The business had revenue of $29.03 million for the quarter, compared to analyst estimates of $28.19 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. The company's quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts expect that Ceva, Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CEVA. Needham & Company LLC cut their price target on Ceva from $55.00 to $43.00 and set a "buy" rating on the stock in a report on Monday, August 10th. TD Cowen lowered their price objective on shares of Ceva from $45.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Rosenblatt Securities boosted their target price on shares of Ceva from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ceva in a research report on Friday, October 2nd. Finally, Stifel Nicolaus increased their target price on shares of Ceva from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ceva has a consensus rating of "Moderate Buy" and a consensus price target of $39.60.

Ceva Profile

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.

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