Nuveen LLC Invests $1.62 Million in Ceva, Inc. $CEVA

Key Points

• Nuveen LLC acquired 63,244 shares of Ceva, Inc., valued at approximately $1.62 million, increasing its ownership to about 0.26% of the company.
• The latest earnings report showed Ceva earned $0.07 per share, surpassing estimates, but experienced a 9.5% decline in revenue year-over-year.
• Analysts currently have a consensus rating of "Buy" on Ceva stock, with an average price target of $35.60.

Nuveen LLC purchased a new stake in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 63,244 shares of the semiconductor company's stock, valued at approximately $1,620,000. Nuveen LLC owned 0.26% of Ceva as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Ceva by 44.5% during the first quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 1,058 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Ceva in the 1st quarter valued at approximately $225,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Ceva in the 4th quarter valued at approximately $292,000. Lazard Asset Management LLC bought a new stake in shares of Ceva in the 4th quarter valued at approximately $457,000. Finally, State of Tennessee Department of Treasury grew its position in Ceva by 33.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 14,923 shares of the semiconductor company's stock worth $471,000 after acquiring an additional 3,709 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CEVA shares. Oppenheimer decreased their price target on Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Rosenblatt Securities restated a "buy" rating and issued a $40.00 price objective on shares of Ceva in a research report on Thursday, August 14th. Finally, Barclays lowered their target price on Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $35.60.

Ceva Stock Performance

Shares of NASDAQ CEVA traded up $0.60 during midday trading on Thursday, reaching $22.37. The company's stock had a trading volume of 137,980 shares, compared to its average volume of 290,935. Ceva, Inc. has a fifty-two week low of $18.31 and a fifty-two week high of $38.94. The business's 50 day moving average price is $22.61 and its two-hundred day moving average price is $24.22. The company has a market cap of $534.20 million, a P/E ratio of -53.26 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. The business had revenue of $25.68 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. Sell-side analysts forecast that Ceva, Inc. will post -0.12 earnings per share for the current fiscal 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.