Rice Hall James & Associates LLC Decreases Stock Position in Ceva, Inc. (NASDAQ:CEVA)

Rice Hall James & Associates LLC trimmed its holdings in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,478 shares of the semiconductor company's stock after selling 11,883 shares during the quarter. Rice Hall James & Associates LLC owned approximately 1.82% of Ceva worth $11,153,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CEVA. Harvest Fund Management Co. Ltd purchased a new position in Ceva in the 4th quarter valued at $40,000. Meeder Asset Management Inc. purchased a new position in Ceva in the 4th quarter valued at $46,000. GAMMA Investing LLC grew its position in Ceva by 44.5% in the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock valued at $88,000 after buying an additional 1,058 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Ceva in the 4th quarter valued at $129,000. Finally, Arizona State Retirement System purchased a new position in Ceva in the 4th quarter valued at $217,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Price Performance

Shares of NASDAQ CEVA traded up $0.26 during trading on Tuesday, hitting $22.81. 46,474 shares of the company were exchanged, compared to its average volume of 240,096. The company has a market cap of $545.27 million, a price-to-earnings ratio of -81.28 and a beta of 1.26. Ceva, Inc. has a 1 year low of $16.02 and a 1 year high of $38.94. The firm's fifty day moving average price is $21.26 and its 200 day moving average price is $26.90.

Ceva (NASDAQ:CEVA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Ceva had a negative return on equity of 1.75% and a negative net margin of 6.11%. The company had revenue of $24.25 million for the quarter, compared to analysts' expectations of $26.55 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Ceva's revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts forecast that Ceva, Inc. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CEVA shares. Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 price objective on shares of Ceva in a research report on Thursday, May 8th. Barclays lowered their price objective 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. Wall Street Zen lowered shares of Ceva from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Finally, Oppenheimer lowered their price objective 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Ceva currently has a consensus rating of "Moderate Buy" and an average price target 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.