Ceva, Inc. $CEVA Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Ceva, Inc. by 44.8%, selling 99,855 shares and now holding 123,124 shares valued at $3,153,000.
• Several hedge funds, including K2 Principal Fund L.P. and Ardsley Advisory Partners LP, made new investments in Ceva during the first quarter, indicating increased institutional interest in the company.
• Ceva's stock trades at $23.61 with analysts maintaining a "buy" rating and an average target price of $35.60.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 44.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,124 shares of the semiconductor company's stock after selling 99,855 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.51% of Ceva worth $3,153,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Ceva by 44.5% during the 1st 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. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ceva during the 1st quarter worth about $225,000. PEAK6 LLC purchased a new position in shares of Ceva during the 1st quarter worth about $256,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Ceva during the 4th quarter worth about $292,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Ceva during the 4th quarter worth about $457,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Ceva Price Performance

NASDAQ CEVA traded up $1.53 during mid-day trading on Thursday, hitting $26.34. The company's stock had a trading volume of 498,048 shares, compared to its average volume of 230,341. Ceva, Inc. has a 52-week low of $18.31 and a 52-week high of $38.94. The stock's fifty day simple moving average is $22.88 and its two-hundred day simple moving average is $23.48. The firm has a market capitalization of $629.00 million, a P/E ratio of -62.71 and a beta of 1.26.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $25.33 million. During the same quarter last year, the firm posted $0.17 earnings per share. Ceva's revenue for the quarter was down 9.5% compared to the same quarter last year. On average, equities analysts forecast that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reiterated a "buy" rating and set a $40.00 price objective on shares of Ceva in a report on Thursday, August 14th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $35.60.

About Ceva

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.