Ceva, Inc. $CEVA Stake Boosted by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Ceva, Inc. by 13.0%, acquiring an additional 281,274 shares, which brings its total ownership to approximately 10.23% of the company.
• Ceva's stock had a recent trading increase of 0.5%, reaching $22.97, with a market capitalization of $548.52 million.
• Analysts have mixed price targets for Ceva, with a consensus target of $35.60, after reports of a recent quarterly earnings EPS of $0.07, which surpassed expectations.

Vanguard Group Inc. grew its stake in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 13.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,446,574 shares of the semiconductor company's stock after buying an additional 281,274 shares during the quarter. Vanguard Group Inc. owned 10.23% of Ceva worth $62,657,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in CEVA. ArrowMark Colorado Holdings LLC lifted its holdings in shares of 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 purchasing an additional 169,677 shares in the last quarter. AWM Investment Company Inc. lifted its holdings in shares of Ceva by 18.0% in the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company's stock valued at $18,935,000 after purchasing an additional 91,668 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ceva by 3,600.0% in the first quarter. GAMMA Investing LLC now owns 88,022 shares of the semiconductor company's stock valued at $2,254,000 after purchasing an additional 85,643 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Ceva by 383.5% in the fourth quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company's stock valued at $2,875,000 after purchasing an additional 72,270 shares in the last quarter. Finally, Man Group plc purchased a new stake in shares of Ceva in the fourth quarter valued at about $1,484,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

Ceva Stock Down 3.1%

Shares of CEVA stock traded down $0.71 during trading hours on Friday, hitting $22.22. 235,401 shares of the company were exchanged, compared to its average volume of 276,438. The firm has a market cap of $530.61 million, a PE ratio of -52.90 and a beta of 1.25. Ceva, Inc. has a 1 year low of $18.31 and a 1 year high of $38.94. The firm has a fifty day moving average of $22.60 and a 200 day moving average of $24.55.

Ceva (NASDAQ:CEVA - Get Free Report) last issued its earnings results on Monday, August 11th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The business had revenue of $25.68 million during the quarter, compared to analysts' expectations of $25.33 million. During the same quarter in the previous year, the business earned $0.17 EPS. The company's revenue for the quarter was down 9.5% on a year-over-year basis. Analysts expect that Ceva, Inc. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CEVA shares. Barclays lowered their price target on shares of Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Rosenblatt Securities reissued a "buy" rating and set a $40.00 price objective on shares of Ceva in a research note on Thursday, August 14th. Finally, Oppenheimer reduced their price objective on shares of Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ceva has a consensus rating of "Buy" and a consensus target price 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.