Rice Hall James & Associates LLC Reduces Stake in Ceva, Inc. (NASDAQ:CEVA)

Rice Hall James & Associates LLC cut its position in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 large investors have also recently made changes to their positions in CEVA. Charles Schwab Investment Management Inc. boosted its position in shares of Ceva by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company's stock valued at $7,154,000 after purchasing an additional 3,783 shares during the period. Arizona State Retirement System acquired a new stake in shares of Ceva in the 4th quarter valued at about $217,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Ceva by 1.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,384 shares of the semiconductor company's stock worth $6,764,000 after acquiring an additional 2,613 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Ceva during the 4th quarter worth approximately $324,000. Finally, Intech Investment Management LLC acquired a new stake in Ceva during the 4th quarter worth approximately $241,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays decreased their price objective on Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Wall Street Zen cut Ceva from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $40.00 price objective on shares of Ceva in a research report on Thursday, May 8th. Finally, Oppenheimer decreased their price objective on Ceva from $40.00 to $33.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.60.

Ceva Trading Up 2.1%

Shares of CEVA traded up $0.47 during mid-day trading on Thursday, hitting $23.27. The company's stock had a trading volume of 264,143 shares, compared to its average volume of 241,985. The firm has a 50-day simple moving average of $21.19 and a 200 day simple moving average of $26.71. The firm has a market capitalization of $556.39 million, a P/E ratio of -83.10 and a beta of 1.26. Ceva, Inc. has a 1-year low of $16.02 and a 1-year high of $38.94.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly 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). The business had revenue of $24.25 million during the quarter, compared to analyst estimates of $26.55 million. Ceva had a negative net margin of 6.11% and a negative return on equity of 1.75%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. As a group, sell-side analysts predict that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

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.