Vanguard Group Inc. Trims Holdings in Ceva, Inc. $CEVA

Vanguard Group Inc. decreased its holdings in Ceva, Inc. (NASDAQ:CEVA) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,365,091 shares of the semiconductor company’s stock after selling 88,930 shares during the period. Vanguard Group Inc. owned about 9.85% of Ceva worth $50,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming purchased a new stake in Ceva in the third quarter worth $39,000. Tower Research Capital LLC TRC increased its stake in shares of Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 2,208 shares during the period. Russell Investments Group Ltd. increased its stake in shares of 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 buying an additional 2,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ceva by 47.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 2,172 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Ceva by 52.7% during the third quarter. BNP Paribas Financial Markets now owns 7,907 shares of the semiconductor company’s stock valued at $209,000 after buying an additional 2,730 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Price Performance

CEVA opened at $36.51 on Friday. The business’s 50-day moving average is $23.80 and its two-hundred day moving average is $22.98. Ceva, Inc. has a 1 year low of $17.02 and a 1 year high of $39.94. The firm has a market capitalization of $1.02 billion, a PE ratio of -81.13 and a beta of 1.94.

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. As a group, sell-side analysts expect that Ceva, Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Oppenheimer raised their price target on Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Cowen raised their price target on Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Wednesday, April 8th. Roth Mkm restated a “buy” rating and set a $40.00 price target on shares of Ceva in a research note on Monday. Finally, JPMorgan Chase & Co. assumed coverage on Ceva in a research note on Friday, May 8th. They set a “neutral” rating and a $30.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.44.

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.