Russell Investments Group Ltd. Boosts Holdings in Ceva, Inc. $CEVA

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Ceva, Inc. by 10,477.9% during Q1, acquiring an additional 43,169 shares to total 43,581 shares valued at approximately $1,116,000.
• Institutional ownership of Ceva stands at 85.37%, with multiple firms increasing their stakes, including Barclays and Principal Financial Group.
• Analysts have varying price targets for Ceva, with consensus set at $35.60, reflecting a bullish outlook despite a recent earnings report showing a 9.5% year-over-year revenue decline.

Russell Investments Group Ltd. lifted its position in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 10,477.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,581 shares of the semiconductor company's stock after purchasing an additional 43,169 shares during the period. Russell Investments Group Ltd. owned about 0.18% of Ceva worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Informed Momentum Co LLC acquired a new position in shares of Ceva in the 1st quarter valued at $2,023,000. Public Sector Pension Investment Board raised its position in Ceva by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 74,932 shares of the semiconductor company's stock worth $1,919,000 after acquiring an additional 16,078 shares during the period. Nuveen LLC acquired a new position in Ceva during the first quarter worth $1,620,000. Invesco Ltd. raised its position in Ceva by 75.8% during the first quarter. Invesco Ltd. now owns 148,459 shares of the semiconductor company's stock worth $3,802,000 after acquiring an additional 64,033 shares during the period. Finally, Deutsche Bank AG raised its position in Ceva by 24.4% during the first quarter. Deutsche Bank AG now owns 147,493 shares of the semiconductor company's stock worth $3,777,000 after acquiring an additional 28,939 shares during the period. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Stock Down 3.2%

CEVA stock traded down $0.71 during mid-day trading on Tuesday, hitting $21.51. 151,583 shares of the company were exchanged, compared to its average volume of 279,915. The firm has a market capitalization of $513.66 million, a P/E ratio of -51.15 and a beta of 1.26. The business has a fifty day simple moving average of $22.62 and a 200-day simple moving average of $24.34. 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 earnings results on Monday, August 11th. The semiconductor company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The company 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%. Ceva's revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. Research analysts predict that Ceva, Inc. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays reduced their price objective on shares of Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 target price on shares of Ceva in a research report on Thursday, August 14th. Finally, Oppenheimer reduced their target price on shares of Ceva from $40.00 to $33.00 and set an "outperform" rating for the company 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 an average target price of $35.60.

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.