Dynamic Technology Lab Private Ltd Takes $1.33 Million Position in Ceva, Inc. $CEVA

Key Points

• Dynamic Technology Lab Private Ltd has acquired 51,840 shares of Ceva, Inc., valued at approximately $1,328,000, indicating a growing interest in the semiconductor sector.
• Ceva, Inc. reported earnings per share of $0.07 for the last quarter, surpassing expectations, though its revenue declined by 9.5% year-over-year.
• Analysts have a buy rating on Ceva shares, with an average target price of $35.60, reflecting confidence in the company's market position despite recent earnings challenges.

Dynamic Technology Lab Private Ltd acquired a new position in Ceva, Inc. (NASDAQ:CEVA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 51,840 shares of the semiconductor company's stock, valued at approximately $1,328,000. Dynamic Technology Lab Private Ltd owned 0.22% of Ceva at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. K2 Principal Fund L.P. acquired a new position in Ceva during the 1st quarter worth approximately $485,000. Ardsley Advisory Partners LP acquired a new position in Ceva during the 1st quarter worth approximately $2,740,000. AWM Investment Company Inc. lifted its position in Ceva by 2.5% during the 1st quarter. AWM Investment Company Inc. now owns 615,162 shares of the semiconductor company's stock worth $15,754,000 after acquiring an additional 15,000 shares in the last quarter. PEAK6 LLC acquired a new position in Ceva during the 1st quarter worth approximately $256,000. Finally, Algert Global LLC lifted its position in Ceva by 48.7% during the 1st quarter. Algert Global LLC now owns 135,504 shares of the semiconductor company's stock worth $3,470,000 after acquiring an additional 44,391 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Trading Down 1.0%

CEVA stock traded down $0.25 during midday trading on Friday, hitting $23.61. 171,495 shares of the company's stock were exchanged, compared to its average volume of 235,460. Ceva, Inc. has a 12-month low of $18.31 and a 12-month high of $38.94. The firm has a 50 day moving average price of $22.70 and a 200-day moving average price of $23.64. The stock has a market capitalization of $563.85 million, a price-to-earnings ratio of -56.21 and a beta of 1.26.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The company had revenue of $25.68 million for the quarter, compared to the consensus estimate of $25.33 million. During the same period in the previous year, the business earned $0.17 EPS. Ceva's revenue for the quarter was down 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reissued a "buy" rating and set a $40.00 price target on shares of Ceva in a research report on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $35.60.

Ceva Profile

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.