Vanguard Group Inc. Increases Holdings in Ceva, Inc. $CEVA

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. boosted its position in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,446,574 shares of the semiconductor company's stock after acquiring an additional 281,274 shares during the period. Vanguard Group Inc. owned 10.23% of Ceva worth $62,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Securities LLC grew its holdings in shares of Ceva by 11.6% during the fourth quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company's stock worth $297,000 after purchasing an additional 978 shares in the last quarter. Barclays PLC lifted its position in Ceva by 2.5% during the fourth quarter. Barclays PLC now owns 42,929 shares of the semiconductor company's stock valued at $1,354,000 after purchasing an additional 1,029 shares during the last quarter. GAMMA Investing LLC grew its stake in Ceva by 44.5% in the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock worth $88,000 after buying an additional 1,058 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of Ceva by 5.9% in the 4th quarter. Centaurus Financial Inc. now owns 19,158 shares of the semiconductor company's stock worth $604,000 after buying an additional 1,075 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Ceva by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 117,894 shares of the semiconductor company's stock valued at $3,019,000 after buying an additional 2,629 shares in the last quarter. Institutional investors own 85.37% of the company's stock.

Ceva Stock Up 1.9%

Shares of CEVA traded up $0.42 during trading hours on Thursday, hitting $23.01. The company had a trading volume of 68,696 shares, compared to its average volume of 280,478. Ceva, Inc. has a 52-week low of $18.31 and a 52-week high of $38.94. The stock's 50 day moving average price is $22.52 and its 200 day moving average price is $24.69. The firm has a market cap of $549.48 million, a P/E ratio of -54.68 and a beta of 1.25.

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

Analysts Set New Price Targets

Several brokerages have issued reports on CEVA. Rosenblatt Securities reaffirmed a "buy" rating and set a $40.00 price target on shares of Ceva in a research note on Thursday, August 14th. Oppenheimer decreased their price objective on Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Barclays dropped their target price on Ceva from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ceva has a consensus 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.