Deutsche Bank AG Buys New Shares in Ceva, Inc. $CEVA

Key Points

• Deutsche Bank acquired 719,690 Ceva shares during the second quarter, worth approximately $33.9 million and representing a 2.58% stake. Institutional investors collectively own 85.37% of the company.
• Ceva exceeded quarterly expectations, reporting $0.08 in EPS versus the $0.07 consensus and revenue of $29.03 million versus $28.19 million. Revenue increased 13% year over year, though the company remains unprofitable on a net-margin basis.
• Analyst sentiment is positive overall, with nine Buy, two Hold and one Sell ratings, producing a “Moderate Buy” consensus and an average price target of $40.60 versus the stock’s reported $27.99 price.

Deutsche Bank AG purchased a new stake in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 719,690 shares of the semiconductor company's stock, valued at approximately $33,941,000. Deutsche Bank AG owned 2.58% of Ceva as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CEVA. Millennium Management LLC lifted its position in shares of Ceva by 2,735.2% in the fourth quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company's stock valued at $12,817,000 after acquiring an additional 574,592 shares in the last quarter. Defiance ETFs LLC bought a new stake in Ceva in the 4th quarter valued at $10,420,000. Handelsbanken Fonder AB boosted its holdings in shares of Ceva by 92.6% during the 4th quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company's stock valued at $14,730,000 after purchasing an additional 329,047 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Ceva by 44.1% during the 4th quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company's stock valued at $21,505,000 after buying an additional 305,540 shares in the last quarter. Finally, HRT Financial LP purchased a new position in Ceva during the 4th quarter valued at approximately $5,182,000. Institutional investors own 85.37% of the company's stock.

Ceva Stock Performance

NASDAQ CEVA opened at $27.99 on Friday. The company has a market capitalization of $787.92 million, a price-to-earnings ratio of -69.97 and a beta of 1.99. The company's 50-day simple moving average is $38.96 and its two-hundred day simple moving average is $31.31. Ceva, Inc. has a one year low of $17.02 and a one year 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 (EPS) for the quarter, beating 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 firm had revenue of $29.03 million for the quarter, compared to the consensus estimate of $28.19 million. During the same period last year, the firm earned $0.07 earnings per share. The company's quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts expect that Ceva, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Benchmark restated a "hold" rating on shares of Ceva in a research report on Tuesday, August 11th. Oppenheimer decreased their target price on shares of Ceva from $42.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. UBS Group lifted their price target on Ceva from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Rosenblatt Securities boosted their price objective on Ceva from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus raised their price objective on Ceva from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.60.

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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