Needham Investment Management LLC Increases Holdings in Ceva, Inc. $CEVA

Needham Investment Management LLC increased its stake in shares of Ceva, Inc. (NASDAQ:CEVA) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 160,000 shares of the semiconductor company’s stock after acquiring an additional 22,500 shares during the quarter. Needham Investment Management LLC owned about 0.67% of Ceva worth $3,443,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Hantz Financial Services Inc. grew its stake in shares of 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 buying an additional 632 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 2,208 shares during the last quarter. Russell Investments Group Ltd. raised its position in Ceva by 771.8% during the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 2,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ceva by 47.4% in 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. Finally, Intech Investment Management LLC boosted its holdings in shares of Ceva by 15.4% in the 4th quarter. Intech Investment Management LLC now owns 9,415 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 1,258 shares during the period. Institutional investors own 85.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CEVA shares. Roth Mkm restated a “buy” rating and issued a $40.00 price target on shares of Ceva in a research report on Monday, May 11th. Rosenblatt Securities raised their price objective on shares of Ceva from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Needham & Company LLC assumed coverage on Ceva in a research report on Monday. They issued a “buy” rating and a $55.00 price objective on the stock. Oppenheimer boosted their target price on shares of Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, UBS Group raised their price target on shares of Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ceva currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Ceva Stock Performance

NASDAQ:CEVA opened at $48.45 on Tuesday. The firm has a market cap of $1.35 billion, a P/E ratio of -107.67 and a beta of 2.00. Ceva, Inc. has a one year low of $17.02 and a one year high of $51.25. The firm has a 50-day simple moving average of $33.84 and a 200-day simple moving average of $25.66.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $27.02 million for the quarter, compared to analyst estimates of $26.12 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that Ceva, Inc. will post -0.21 EPS for the current fiscal 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.