GAMMA Investing LLC Purchases 85,643 Shares of Ceva, Inc. (NASDAQ:CEVA)

GAMMA Investing LLC grew its position in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) by 3,600.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 88,022 shares of the semiconductor company's stock after acquiring an additional 85,643 shares during the period. GAMMA Investing LLC owned about 0.37% of Ceva worth $2,254,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in Ceva by 21.5% during the fourth quarter. Sei Investments Co. now owns 67,986 shares of the semiconductor company's stock worth $2,145,000 after acquiring an additional 12,034 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Ceva during the fourth quarter valued at approximately $292,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Ceva by 9.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,546 shares of the semiconductor company's stock worth $1,279,000 after purchasing an additional 3,584 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Ceva by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company's stock worth $3,637,000 after buying an additional 3,171 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Ceva by 2.8% in the 4th quarter. Rhumbline Advisers now owns 73,270 shares of the semiconductor company's stock worth $2,312,000 after buying an additional 2,027 shares during the last quarter. Institutional investors own 85.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays dropped their target price on Ceva from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Rosenblatt Securities reissued a "buy" rating and set a $40.00 price objective on shares of Ceva in a research report on Thursday, May 8th. Oppenheimer reduced their price objective on shares of Ceva from $40.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen cut shares of Ceva from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Ceva currently has an average rating of "Moderate Buy" and an average price target of $35.60.

Ceva Stock Down 1.7%

CEVA traded down $0.34 during mid-day trading on Tuesday, reaching $20.13. 171,448 shares of the company traded hands, compared to its average volume of 234,462. The company's fifty day moving average price is $22.17 and its 200-day moving average price is $28.12. The stock has a market capitalization of $481.31 million, a P/E ratio of -71.89 and a beta of 1.23. Ceva, Inc. has a 52-week low of $16.02 and a 52-week high of $38.94.

Ceva (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Ceva had a negative return on equity of 1.75% and a negative net margin of 6.11%. The firm had revenue of $24.25 million during the quarter, compared to the consensus estimate of $26.55 million. During the same period in the previous year, the firm earned ($0.05) EPS. The business's revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

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.