Tidal Investments LLC Buys 38,876 Shares of Ceva, Inc. $CEVA

Key Points

• Tidal Investments increased its Ceva position by 202% in the second quarter, purchasing 38,876 additional shares for a total of 58,121 shares valued at approximately $2.74 million.
• Institutional ownership of Ceva stands at 85.37%, with BlackRock, AWM Investment, Deutsche Bank and other firms also establishing or expanding positions during the period.
• Ceva exceeded quarterly earnings and revenue expectations, while analysts maintain a “Moderate Buy” consensus with an average price target of $40.60, well above the reported $27.91 share price.

Tidal Investments LLC increased its position in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 202.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,121 shares of the semiconductor company's stock after purchasing an additional 38,876 shares during the quarter. Tidal Investments LLC owned approximately 0.21% of Ceva worth $2,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Ceva in the 2nd quarter worth $113,995,000. AWM Investment Company Inc. bought a new position in shares of Ceva during the 2nd quarter worth $37,719,000. Deutsche Bank AG purchased a new position in shares of Ceva during the second quarter valued at $33,941,000. Handelsbanken Fonder AB raised its holdings in shares of Ceva by 92.6% in the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company's stock valued at $14,730,000 after acquiring an additional 329,047 shares in the last quarter. Finally, Oaktop Capital Management II L.P. bought a new stake in shares of Ceva in the second quarter valued at about $21,051,000. 85.37% of the stock is owned by institutional investors.

Ceva Price Performance

CEVA opened at $27.91 on Wednesday. The business's 50-day moving average is $32.92 and its two-hundred day moving average is $32.11. Ceva, Inc. has a 1 year low of $17.02 and a 1 year high of $51.60. The firm has a market capitalization of $785.67 million, a PE ratio of -69.77 and a beta of 1.97.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its earnings results on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The company had revenue of $29.03 million during the quarter, compared to analysts' expectations of $28.19 million. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. Ceva's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, sell-side analysts expect that Ceva, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Needham & Company LLC dropped their target price on shares of Ceva from $55.00 to $43.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Oppenheimer reduced their price target on shares of Ceva from $42.00 to $38.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Rosenblatt Securities upped their price target on shares of Ceva from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Ceva from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Stifel Nicolaus lifted their price objective on shares of Ceva from $42.00 to $50.00 and gave the company a "buy" rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ceva has a consensus rating of "Moderate Buy" and a consensus price target of $40.60.

Ceva Company Profile

CEVA, Inc NASDAQ: CEVA is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and software for use in wireless communications, consumer electronics, automotive systems, industrial equipment and the Internet of Things. Rather than manufacturing chips, CEVA provides technology that semiconductor companies and original equipment manufacturers can incorporate into their own products.

The company's portfolio includes digital signal processors, artificial intelligence and neural processing technologies, computer vision and sensor-fusion solutions, and platforms for wireless connectivity.

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