Ceva, Inc. $CEVA Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Ceva, Inc. (NASDAQ:CEVA) by 14.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,820 shares of the semiconductor company’s stock after selling 27,578 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.66% of Ceva worth $3,469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AlphaQuest LLC grew its stake in shares of Ceva by 123.6% in the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 1,355 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Ceva in the 2nd quarter valued at $42,000. D.A. Davidson & CO. increased its stake in Ceva by 4.2% in the 2nd quarter. D.A. Davidson & CO. now owns 66,101 shares of the semiconductor company’s stock valued at $1,453,000 after buying an additional 2,664 shares during the period. Herald Investment Management Ltd raised its position in Ceva by 23.1% during the 2nd quarter. Herald Investment Management Ltd now owns 400,000 shares of the semiconductor company’s stock worth $8,780,000 after buying an additional 75,000 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Ceva by 8.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,252 shares of the semiconductor company’s stock worth $313,000 after acquiring an additional 1,160 shares during the period. 85.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CEVA. Barclays boosted their price target on shares of Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Ceva in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Ceva Price Performance

CEVA opened at $24.57 on Friday. Ceva, Inc. has a 1-year low of $18.31 and a 1-year high of $38.94. The stock has a market cap of $586.78 million, a P/E ratio of -58.50 and a beta of 1.32. The stock’s 50 day simple moving average is $26.71 and its 200 day simple moving average is $23.67.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, November 10th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The company had revenue of $28.38 million for the quarter, compared to the consensus estimate of $28.04 million. During the same period in the previous year, the business earned $0.14 earnings per share. Ceva’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

Ceva Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.