Herald Investment Management Ltd Acquires 75,000 Shares of Ceva, Inc. $CEVA

Key Points

• Herald Investment Management Ltd has increased its stake in Ceva, Inc. by 23.1%, now holding a total of 400,000 shares after acquiring 75,000 shares in the second quarter.
• Ceva, Inc. reported earnings of $0.07 per share, surpassing analysts’ estimates, while its revenue fell 9.5% year-over-year to $25.68 million.
• Analysts maintain a consensus rating of "Moderate Buy" for Ceva, with an average price target of $35.60, showcasing varied confidence in its future performance.

Herald Investment Management Ltd boosted its holdings in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 23.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 400,000 shares of the semiconductor company's stock after buying an additional 75,000 shares during the quarter. Ceva accounts for approximately 1.3% of Herald Investment Management Ltd's holdings, making the stock its 22nd biggest position. Herald Investment Management Ltd owned approximately 1.67% of Ceva worth $8,780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ceva by 9.7% in the fourth 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ceva by 3,600.0% in the first quarter. GAMMA Investing LLC now owns 88,022 shares of the semiconductor company's stock worth $2,254,000 after buying an additional 85,643 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Ceva in the 1st quarter worth $922,000. Principal Financial Group Inc. boosted its stake in Ceva by 2.3% during the first quarter. Principal Financial Group Inc. now owns 117,894 shares of the semiconductor company's stock valued at $3,019,000 after buying an additional 2,629 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Ceva by 5.7% during the 1st quarter. D.A. Davidson & CO. now owns 63,437 shares of the semiconductor company's stock valued at $1,625,000 after acquiring an additional 3,423 shares during the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Ceva Price Performance

NASDAQ:CEVA opened at $28.02 on Monday. The company's fifty day moving average price is $23.69 and its 200-day moving average price is $23.05. Ceva, Inc. has a 1-year low of $18.31 and a 1-year high of $38.94. The firm has a market capitalization of $669.12 million, a P/E ratio of -66.71 and a beta of 1.29.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CEVA shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price target on shares of Ceva in a report on Thursday, August 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Ceva in a report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.60.

Ceva Company 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.

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