K2 Principal Fund L.P. Purchases Shares of 18,952 Ceva, Inc. $CEVA

Key Points

• K2 Principal Fund L.P. acquired $485,000 worth of shares in Ceva, Inc., amounting to 18,952 shares, representing a 0.08% ownership stake as of its recent SEC filing.
• Ceva's stock experienced a 2.8% increase, closing at $22.37, with a market cap of $534.20 million and a price-to-earnings ratio of -53.26.
• Equities analysts have given Ceva an average rating of "Buy", with target prices ranging from $30 to $40, despite the company reporting a decline in quarterly revenue compared to the previous year.

K2 Principal Fund L.P. purchased a new stake in Ceva, Inc. (NASDAQ:CEVA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,952 shares of the semiconductor company's stock, valued at approximately $485,000. K2 Principal Fund L.P. owned approximately 0.08% of Ceva as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in Ceva by 44.5% during 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 during the period. Centaurus Financial Inc. lifted its stake in shares of Ceva by 5.9% in the fourth quarter. Centaurus Financial Inc. now owns 19,158 shares of the semiconductor company's stock worth $604,000 after buying an additional 1,075 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Ceva by 2.3% in the first quarter. Principal Financial Group Inc. now owns 117,894 shares of the semiconductor company's stock worth $3,019,000 after buying an additional 2,629 shares in the last quarter. D.A. Davidson & CO. boosted its position in Ceva by 5.7% during the first quarter. D.A. Davidson & CO. now owns 63,437 shares of the semiconductor company's stock worth $1,625,000 after acquiring an additional 3,423 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ceva by 9.7% during 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 acquiring an additional 3,584 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

Ceva Price Performance

Shares of CEVA traded down $0.12 during mid-day trading on Wednesday, reaching $22.73. The stock had a trading volume of 31,783 shares, compared to its average volume of 278,845. Ceva, Inc. has a 52-week low of $18.31 and a 52-week high of $38.94. The business's fifty day moving average is $22.66 and its 200 day moving average is $23.88. The firm has a market cap of $542.84 million, a price-to-earnings ratio of -54.15 and a beta of 1.26.

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, beating analysts' consensus estimates of $0.05 by $0.02. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.04%. The firm had revenue of $25.68 million during the quarter, compared to analyst estimates of $25.33 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Ceva's quarterly revenue was down 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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