Ceva, Inc. $CEVA Stock Holdings Raised by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its holdings in Ceva, Inc. by 52.2% in Q1, now owning 59,712 shares valued at approximately $1.53 million.
• Wall Street analysts maintain a "buy" rating for Ceva, with a price target of $40.00, reflecting positive growth expectations despite recent revenue declines.
• Ceva's stock opened at $26.42, with a market cap of $630.91 million, while the company's Q2 earnings beat estimates, reporting $0.07 EPS compared to the expected $0.05 EPS.

Voya Investment Management LLC lifted its holdings in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) by 52.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,712 shares of the semiconductor company's stock after buying an additional 20,469 shares during the period. Voya Investment Management LLC owned 0.25% of Ceva worth $1,529,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CEVA. Vanguard Group Inc. boosted its stake in Ceva by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company's stock valued at $62,657,000 after purchasing an additional 281,274 shares during the period. AWM Investment Company Inc. raised its holdings in shares of Ceva by 2.5% in the 1st quarter. AWM Investment Company Inc. now owns 615,162 shares of the semiconductor company's stock worth $15,754,000 after purchasing an additional 15,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ceva by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 231,369 shares of the semiconductor company's stock worth $5,925,000 after purchasing an additional 4,624 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Ceva by 75.8% during the first quarter. Invesco Ltd. now owns 148,459 shares of the semiconductor company's stock valued at $3,802,000 after acquiring an additional 64,033 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Ceva by 24.4% during the first quarter. Deutsche Bank AG now owns 147,493 shares of the semiconductor company's stock valued at $3,777,000 after acquiring an additional 28,939 shares during the period. Institutional investors own 85.37% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 price objective on shares of Ceva in a research note on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $35.60.

Ceva Stock Performance

Shares of NASDAQ CEVA opened at $26.42 on Tuesday. The firm has a market capitalization of $630.91 million, a PE ratio of -62.90 and a beta of 1.26. Ceva, Inc. has a 1 year low of $18.31 and a 1 year high of $38.94. The firm's 50-day moving average is $23.03 and its 200-day moving average is $23.26.

Ceva (NASDAQ:CEVA - Get Free Report) last issued its earnings results on Monday, August 11th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.68 million for the quarter, compared to analyst estimates of $25.33 million. During the same quarter last year, the firm earned $0.17 EPS. The company's revenue for the quarter was down 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

About Ceva

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.

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