Informed Momentum Co LLC Buys New Shares in Ceva, Inc. (NASDAQ:CEVA)

Key Points

• Informed Momentum Co LLC has acquired a new stake in Ceva, Inc., purchasing 78,996 shares valued at approximately $2,023,000, representing 0.33% ownership as of their latest SEC filing.
• Several institutional investors have increased their holdings in Ceva during the first quarter, with notable increases including Invesco Ltd., which boosted its stake by 75.8% to own 148,459 shares valued at $3,802,000.
• CEVA's stock has a consensus rating of Moderate Buy with an average target price of $35.60, while the company reported a revenue decline of 9.5% year-over-year and beat earnings expectations in its latest quarter.

Informed Momentum Co LLC bought a new stake in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 78,996 shares of the semiconductor company's stock, valued at approximately $2,023,000. Informed Momentum Co LLC owned approximately 0.33% of Ceva at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CEVA. GAMMA Investing LLC boosted its holdings in Ceva by 44.5% in the first quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after acquiring an additional 1,058 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Ceva in the first quarter worth approximately $225,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Ceva in the fourth quarter worth approximately $292,000. Two Sigma Securities LLC raised its stake in shares of Ceva by 11.6% in the fourth quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company's stock worth $297,000 after purchasing an additional 978 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Ceva in the fourth quarter worth approximately $457,000. Institutional investors own 85.37% of the company's stock.

Ceva Stock Down 3.3%

Shares of CEVA traded down $0.79 during trading hours on Friday, hitting $23.31. The company had a trading volume of 292,378 shares, compared to its average volume of 267,640. The firm has a market cap of $556.64 million, a P/E ratio of -55.50 and a beta of 1.25. The stock's 50 day moving average price is $22.20 and its 200 day moving average price is $25.23. Ceva, Inc. has a 52-week low of $18.31 and a 52-week high of $38.94.

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

Analysts Set New Price Targets

Several analysts have recently commented on CEVA shares. Oppenheimer lowered their price objective on Ceva from $40.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Barclays decreased their price target on Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $40.00 price target on shares of Ceva in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.