Invesco Ltd. Acquires 64,033 Shares of Ceva, Inc. $CEVA

Key Points

• Invesco Ltd. increased its stake in Ceva, Inc. by 75.8% during the 1st quarter, purchasing an additional 64,033 shares and owning 148,459 shares worth approximately $3.8 million.
• Ceva reported $0.07 EPS for the quarter, exceeding analyst expectations, although its revenue decreased by 9.5% year-over-year to $25.68 million.
• Analysts have mixed target price adjustments for Ceva, with Barclays lowering theirs from $40.00 to $30.00, while Rosenblatt Securities maintains a "buy" rating with a target of $40.00.

Invesco Ltd. lifted its holdings in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 75.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 148,459 shares of the semiconductor company's stock after purchasing an additional 64,033 shares during the quarter. Invesco Ltd. owned about 0.62% of Ceva worth $3,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CEVA. Vanguard Group Inc. grew its position in shares of Ceva by 13.0% in the 1st quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company's stock valued at $62,657,000 after purchasing an additional 281,274 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Ceva by 199.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock valued at $8,035,000 after purchasing an additional 169,677 shares during the period. AWM Investment Company Inc. grew its position in shares of Ceva by 18.0% in the 4th quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company's stock valued at $18,935,000 after purchasing an additional 91,668 shares during the period. GAMMA Investing LLC grew its position in shares of Ceva by 3,600.0% in the 1st quarter. GAMMA Investing LLC now owns 88,022 shares of the semiconductor company's stock valued at $2,254,000 after purchasing an additional 85,643 shares during the period. Finally, Algert Global LLC grew its position in shares of Ceva by 383.5% in the 4th quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company's stock valued at $2,875,000 after purchasing an additional 72,270 shares during the period. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CEVA. Rosenblatt Securities reiterated a "buy" rating and set a $40.00 price objective on shares of Ceva in a report on Thursday, August 14th. Oppenheimer reduced their price target on Ceva from $40.00 to $33.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Barclays reduced 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. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $35.60.

Ceva Trading Down 3.2%

Shares of Ceva stock traded down $0.71 on Tuesday, reaching $21.51. 151,583 shares of the company were exchanged, compared to its average volume of 279,915. Ceva, Inc. has a one year low of $18.31 and a one year high of $38.94. The company has a market capitalization of $513.66 million, a price-to-earnings ratio of -51.15 and a beta of 1.26. The company has a 50-day moving average of $22.62 and a 200 day moving average of $24.34.

Ceva (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $25.33 million. During the same quarter in the prior year, the business posted $0.17 EPS. The business's revenue was down 9.5% compared to the same quarter last year. Analysts predict that Ceva, Inc. will post -0.12 earnings per share for the current year.

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.