719,690 Shares in Ceva, Inc. $CEVA Purchased by Deutsche Bank AG

Deutsche Bank AG purchased a new stake in Ceva, Inc. (NASDAQ:CEVA) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 719,690 shares of the semiconductor company’s stock, valued at approximately $33,941,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Ceva by 3.1% in the second quarter. American Century Companies Inc. now owns 53,354 shares of the semiconductor company’s stock valued at $1,173,000 after buying an additional 1,619 shares during the last quarter. Norges Bank acquired a new stake in Ceva during the second quarter worth about $495,000. Invesco Ltd. increased its position in Ceva by 8.5% during the second quarter. Invesco Ltd. now owns 161,116 shares of the semiconductor company’s stock worth $3,541,000 after purchasing an additional 12,657 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Ceva by 243.9% during the second quarter. Qube Research & Technologies Ltd now owns 93,103 shares of the semiconductor company’s stock worth $2,046,000 after purchasing an additional 66,032 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Ceva by 835.6% in the 2nd quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock valued at $1,894,000 after purchasing an additional 76,942 shares during the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CEVA has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Monday, July 6th. Needham & Company LLC cut their price objective on Ceva from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, August 10th. UBS Group upped their price objective on shares of Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Oppenheimer lowered their price objective on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. assumed coverage on Ceva in a report on Friday, May 8th. They issued a “neutral” rating and a $30.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.60.

Ceva Price Performance

Shares of NASDAQ:CEVA opened at $27.99 on Friday. Ceva, Inc. has a 12 month low of $17.02 and a 12 month high of $51.60. The firm has a market capitalization of $787.92 million, a P/E ratio of -69.97 and a beta of 1.99. The company’s fifty day moving average price is $38.96 and its 200 day moving average price is $31.31.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $29.03 million for the quarter, compared to analysts’ expectations of $28.19 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. On average, sell-side analysts anticipate that Ceva, Inc. will post -0.17 EPS for the current 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.