Handelsbanken Fonder AB Has $9.39 Million Stock Position in Ceva, Inc. $CEVA

Handelsbanken Fonder AB boosted its holdings in shares of Ceva, Inc. (NASDAQ:CEVA) by 1,287.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355,418 shares of the semiconductor company’s stock after purchasing an additional 329,802 shares during the period. Handelsbanken Fonder AB’s holdings in Ceva were worth $9,387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AlphaQuest LLC raised its holdings in shares of Ceva by 123.6% during the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock worth $54,000 after buying an additional 1,355 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Ceva by 24.0% in the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock valued at $14,346,000 after buying an additional 126,267 shares in the last quarter. ProShare Advisors LLC grew its position in Ceva by 5.1% in the second quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock valued at $217,000 after acquiring an additional 479 shares during the last quarter. Geode Capital Management LLC grew its position in Ceva by 0.6% in the second quarter. Geode Capital Management LLC now owns 562,133 shares of the semiconductor company’s stock valued at $12,357,000 after acquiring an additional 3,369 shares during the last quarter. Finally, Senvest Management LLC lifted its holdings in shares of Ceva by 8.4% in the second quarter. Senvest Management LLC now owns 2,151,632 shares of the semiconductor company’s stock worth $47,293,000 after acquiring an additional 166,425 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

Ceva Stock Performance

Shares of NASDAQ CEVA opened at $20.86 on Monday. The firm has a 50 day moving average price of $22.00 and a two-hundred day moving average price of $23.61. The stock has a market cap of $501.06 million, a P/E ratio of -48.51 and a beta of 1.49. Ceva, Inc. has a 52-week low of $18.23 and a 52-week high of $34.82.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $31.29 million for the quarter, compared to analysts’ expectations of $31.03 million. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. Ceva’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Analysts predict that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Ceva in a research note on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price target on the stock. Loop Capital began coverage on shares of Ceva in a research note on Monday, December 1st. They issued a “buy” rating and a $28.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and issued a $40.00 target price on shares of Ceva in a research report on Wednesday, February 18th. UBS Group began coverage on shares of Ceva in a research note on Wednesday, February 25th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.67.

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.