Teacher Retirement System of Texas Makes New Investment in Ceva, Inc. (NASDAQ:CEVA)

Teacher Retirement System of Texas purchased a new position in Ceva, Inc. (NASDAQ:CEVA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,991 shares of the semiconductor company's stock, valued at approximately $922,000. Teacher Retirement System of Texas owned approximately 0.15% of Ceva as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CEVA. ArrowMark Colorado Holdings LLC raised its holdings in Ceva by 199.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock valued at $8,035,000 after acquiring an additional 169,677 shares in the last quarter. AWM Investment Company Inc. increased its stake in shares of Ceva by 18.0% during the 4th quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company's stock valued at $18,935,000 after acquiring an additional 91,668 shares during the last quarter. Norges Bank acquired a new position in shares of Ceva during the 4th quarter valued at about $2,817,000. GAMMA Investing LLC lifted its holdings in shares of Ceva by 3,600.0% during the 1st quarter. GAMMA Investing LLC now owns 88,022 shares of the semiconductor company's stock valued at $2,254,000 after acquiring an additional 85,643 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Ceva by 383.5% in the 4th quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company's stock worth $2,875,000 after acquiring an additional 72,270 shares during the period. Hedge funds and other institutional investors own 85.37% of the company's stock.

Ceva Stock Down 0.7%

Shares of CEVA stock traded down $0.17 during trading hours on Friday, reaching $23.10. 84,247 shares of the company's stock were exchanged, compared to its average volume of 241,363. Ceva, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $38.94. The stock has a market capitalization of $552.32 million, a P/E ratio of -82.53 and a beta of 1.26. The business has a fifty day moving average price of $21.19 and a 200-day moving average price of $26.71.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CEVA shares. Barclays cut their target price on Ceva from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Rosenblatt Securities reissued a "buy" rating and set a $40.00 price target on shares of Ceva in a report on Thursday, May 8th. Wall Street Zen lowered Ceva from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Oppenheimer lowered their price target on Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a 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. According to data from MarketBeat.com, Ceva presently has a consensus rating of "Moderate 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.