Ceva, Inc. $CEVA Shares Purchased by Herald Investment Management Ltd

Herald Investment Management Ltd increased its position in shares of Ceva, Inc. (NASDAQ:CEVA) by 23.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 400,000 shares of the semiconductor company’s stock after buying an additional 75,000 shares during the quarter. Ceva makes up 1.3% of Herald Investment Management Ltd’s portfolio, making the stock its 22nd largest holding. Herald Investment Management Ltd’s holdings in Ceva were worth $8,780,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CEVA. GAMMA Investing LLC grew its position in shares of Ceva by 44.5% during the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 1,058 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Ceva in the first quarter valued at approximately $225,000. PEAK6 LLC purchased a new stake in shares of Ceva in the first quarter valued at approximately $256,000. State of Alaska Department of Revenue raised its stake in shares of Ceva by 8.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,252 shares of the semiconductor company’s stock worth $313,000 after buying an additional 1,160 shares during the period. Finally, K2 Principal Fund L.P. purchased a new position in shares of Ceva during the 1st quarter valued at approximately $485,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Stock Performance

Ceva stock opened at $28.02 on Monday. The company has a market capitalization of $669.12 million, a PE ratio of -66.71 and a beta of 1.29. Ceva, Inc. has a fifty-two week low of $18.31 and a fifty-two week high of $38.94. The firm has a 50 day moving average price of $23.69 and a 200 day moving average price of $23.05.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $25.33 million. During the same period last year, the business posted $0.17 earnings per share. The company’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Ceva, Inc. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

CEVA has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Ceva in a report on Saturday, September 27th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Ceva in a research note on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.