Public Sector Pension Investment Board Boosts Stock Holdings in Ceva, Inc. $CEVA

Key Points

• The Public Sector Pension Investment Board boosted its shares in Ceva, Inc. by 27.3%, acquiring an additional 16,078 shares to hold a total of 74,932 shares worth approximately $1.9 million.
• Ceva reported an earnings per share (EPS) of $0.07, surpassing expectations of $0.05, but experienced a 9.5% decline in year-over-year revenue.
• Analysts maintain a consensus "Buy" rating for Ceva, with revised price targets ranging from $30.00 to $40.00, indicating a mixed outlook among investment firms.

Public Sector Pension Investment Board boosted its stake in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,932 shares of the semiconductor company's stock after purchasing an additional 16,078 shares during the period. Public Sector Pension Investment Board owned about 0.31% of Ceva worth $1,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Ceva by 13.0% in the first quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company's stock worth $62,657,000 after acquiring an additional 281,274 shares during the period. AWM Investment Company Inc. raised its position in Ceva by 18.0% in the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company's stock worth $18,935,000 after acquiring an additional 91,668 shares during the period. Northern Trust Corp raised its position in Ceva by 14.3% in the fourth quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company's stock worth $8,530,000 after acquiring an additional 33,737 shares during the period. ArrowMark Colorado Holdings LLC raised its position in Ceva by 199.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock worth $8,035,000 after acquiring an additional 169,677 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Ceva by 2.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 231,369 shares of the semiconductor company's stock worth $5,925,000 after acquiring an additional 4,624 shares during the period. Institutional investors own 85.37% of the company's stock.

Analyst Upgrades and Downgrades

CEVA has been the topic of several recent research reports. Barclays decreased their price target on shares of Ceva from $40.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 price target on shares of Ceva in a research report on Thursday, August 14th. Finally, Oppenheimer decreased their price target on shares of Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $35.60.

Ceva Stock Performance

Shares of NASDAQ CEVA traded up $1.31 during midday trading on Friday, reaching $23.52. The stock had a trading volume of 242,909 shares, compared to its average volume of 276,684. The stock has a 50-day moving average of $22.38 and a 200-day moving average of $24.85. The company has a market capitalization of $561.66 million, a price-to-earnings ratio of -56.00 and a beta of 1.25. Ceva, Inc. has a 12-month low of $18.31 and a 12-month high of $38.94.

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. The firm had revenue of $25.68 million during 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 company's revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, analysts forecast that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

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.