Rice Hall James & Associates LLC Increases Stake in Ceva, Inc. $CEVA

Rice Hall James & Associates LLC lifted its position in Ceva, Inc. (NASDAQ:CEVA) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,388 shares of the semiconductor company’s stock after acquiring an additional 15,632 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Ceva were worth $7,834,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CEVA. Millennium Management LLC grew its holdings in Ceva by 2,735.2% during the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after acquiring an additional 574,592 shares in the last quarter. Defiance ETFs LLC bought a new position in shares of Ceva during the fourth quarter valued at approximately $10,420,000. Handelsbanken Fonder AB increased its holdings in Ceva by 92.6% during the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock valued at $14,730,000 after buying an additional 329,047 shares during the period. Neuberger Berman Group LLC increased its holdings in Ceva by 44.1% during the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock valued at $21,505,000 after buying an additional 305,540 shares during the period. Finally, HRT Financial LP bought a new position in Ceva in the fourth quarter worth approximately $5,182,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CEVA has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Monday, July 6th. Roth Capital restated a “buy” rating and set a $40.00 price objective on shares of Ceva in a research note on Monday, May 11th. Oppenheimer raised their price objective on Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Rosenblatt Securities raised their price target on shares of Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Needham & Company LLC began coverage on shares of Ceva in a research report on Monday, June 15th. They issued a “buy” rating and a $55.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.80.

Ceva Trading Down 6.2%

Shares of CEVA opened at $36.35 on Friday. The firm has a market cap of $1.01 billion, a PE ratio of -80.78 and a beta of 1.96. Ceva, Inc. has a 12 month low of $17.02 and a 12 month high of $51.60. The stock has a fifty day moving average price of $43.08 and a 200-day moving average price of $29.99.

Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The firm had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. During the same period in the previous year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Ceva, Inc. will post -0.21 EPS for the current year.

Ceva Company Profile

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.