Man Group plc Makes New $4.07 Million Investment in Ceva, Inc. $CEVA

Man Group plc acquired a new stake in shares of Ceva, Inc. (NASDAQ:CEVA) in the second quarter, HoldingsChannel.com reports. The fund acquired 86,273 shares of the semiconductor company’s stock, valued at approximately $4,069,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CEVA. Global Retirement Partners LLC purchased a new position in Ceva during the second quarter valued at $49,000. Hantz Financial Services Inc. lifted its stake in Ceva by 77.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 632 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Ceva by 771.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 2,107 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Ceva by 422.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,208 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ceva by 47.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 2,172 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

Wall Street Analysts Forecast Growth

CEVA has been the topic of several research reports. TD Cowen reduced their target price on Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Stifel Nicolaus increased their price target on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 10th. UBS Group raised their price target on Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen raised Ceva from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Monday, July 6th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Ceva Stock Performance

CEVA opened at $27.12 on Monday. The firm has a market cap of $763.43 million, a P/E ratio of -67.80 and a beta of 1.99. Ceva, Inc. has a 12 month low of $17.02 and a 12 month high of $51.60. The stock has a 50-day moving average of $36.93 and a 200 day moving average of $31.59.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.The business had revenue of $29.03 million for the quarter, compared to the consensus estimate of $28.19 million. During the same period in the prior year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts forecast that Ceva, Inc. will post -0.17 earnings per share for the current fiscal year.

About Ceva

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.