Ceva, Inc. $CEVA Shares Purchased by Public Sector Pension Investment Board

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 increased 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 disclosure with the Securities and Exchange Commission. The institutional investor owned 74,932 shares of the semiconductor company's stock after buying an additional 16,078 shares during the period. Public Sector Pension Investment Board owned about 0.31% of Ceva worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings 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 buying an additional 1,058 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Ceva during the first quarter worth about $225,000. Price T Rowe Associates Inc. MD purchased a new stake in Ceva during the fourth quarter worth about $292,000. Two Sigma Securities LLC boosted its holdings in Ceva by 11.6% during the fourth quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company's stock worth $297,000 after buying an additional 978 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Ceva during the fourth quarter worth about $457,000. Hedge funds and other institutional investors own 85.37% of the company's stock.

Ceva Stock Up 0.5%

Shares of NASDAQ:CEVA traded up $0.12 during trading on Tuesday, reaching $22.97. The stock had a trading volume of 172,966 shares, compared to its average volume of 281,564. The business has a fifty day moving average price of $22.48 and a 200-day moving average price of $24.70. The stock has a market cap of $548.52 million, a P/E ratio of -54.69 and a beta of 1.25. Ceva, Inc. has a fifty-two week low of $18.31 and a fifty-two week high of $38.94.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The business had revenue of $25.68 million during the quarter, compared to analyst estimates 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 was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share. As a group, equities analysts forecast that Ceva, Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

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

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.