William Blair Investment Management LLC Makes New $24.98 Million Investment in Ceva, Inc. $CEVA

William Blair Investment Management LLC bought a new stake in shares of Ceva, Inc. (NASDAQ:CEVA) during the third quarter, Holdings Channel reports. The fund bought 706,899 shares of the semiconductor company’s stock, valued at approximately $24,975,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its holdings in Ceva by 129.5% during the third quarter. Russell Investments Group Ltd. now owns 19,800 shares of the semiconductor company’s stock valued at $696,000 after buying an additional 11,172 shares during the period. Moody Aldrich Partners LLC lifted its holdings in Ceva by 59.2% during the third quarter. Moody Aldrich Partners LLC now owns 121,324 shares of the semiconductor company’s stock worth $4,286,000 after buying an additional 45,138 shares during the period. Sterling Capital Management LLC lifted its holdings in Ceva by 492.6% during the third quarter. Sterling Capital Management LLC now owns 877 shares of the semiconductor company’s stock worth $31,000 after buying an additional 729 shares during the period. Inspire Investing LLC lifted its holdings in Ceva by 28.2% during the third quarter. Inspire Investing LLC now owns 18,257 shares of the semiconductor company’s stock worth $645,000 after buying an additional 4,011 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in Ceva by 771.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,970 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Analysts Set New Price Targets

CEVA has been the subject of several recent research reports. Oppenheimer reissued an “outperform” rating and issued a $35.00 price target (down from $38.00) on shares of Ceva in a research report on Tuesday, November 10th. Rosenblatt Securities upped their price objective on Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. TD Cowen dropped their price objective on Ceva from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Stifel Nicolaus cut their target price on Ceva from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, November 10th. Finally, UBS Group reduced their target price on shares of Ceva from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.33.

Ceva Stock Performance

CEVA stock traded down $0.73 during midday trading on Friday, reaching $25.59. The stock had a trading volume of 390,373 shares, compared to its average volume of 510,396. The stock has a market cap of $730.08 million, a PE ratio of -67.34 and a beta of 1.98. The firm has a fifty day simple moving average of $30.38 and a two-hundred day simple moving average of $30.67. Ceva, Inc. has a 52-week low of $17.02 and a 52-week high of $51.60.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data on Monday, November 9th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $29.06 million for the quarter, compared to analyst estimates of $32.71 million. Ceva had a negative net margin of 9.25% and a negative return on equity of 2.70%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, sell-side analysts predict that Ceva, Inc. will post -0.18 EPS for the current fiscal year.

Ceva Profile

CEVA, Inc. develops and licenses semiconductor intellectual property and software for connected and intelligent devices. Rather than manufacturing chips, the company provides technology that semiconductor companies and other customers can incorporate into their own products. Its portfolio includes digital signal processors and platforms for wireless connectivity, including cellular, Wi-Fi, Bluetooth and ultra-wideband, as well as technologies for audio, imaging, computer vision, sensor processing and edge artificial intelligence.