Ceva, Inc. $CEVA Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in shares of Ceva, Inc. (NASDAQ:CEVA) by 48.3% during the first quarter, Holdings Channel.com reports. The firm owned 53,492 shares of the semiconductor company’s stock after buying an additional 17,424 shares during the quarter. Hsbc Holdings PLC’s holdings in Ceva were worth $972,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Senvest Management LLC increased its holdings in shares of Ceva by 8.0% during the 4th quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company’s stock worth $51,380,000 after buying an additional 177,765 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Ceva by 44.1% in the fourth quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock valued at $21,505,000 after acquiring an additional 305,540 shares during the last quarter. AWM Investment Company Inc. grew its position in Ceva by 24.1% in the fourth quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock worth $17,814,000 after acquiring an additional 160,644 shares during the period. Handelsbanken Fonder AB grew its position in Ceva by 92.6% in the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock worth $14,730,000 after acquiring an additional 329,047 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in Ceva by 40.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after acquiring an additional 179,098 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CEVA shares. Stifel Nicolaus lifted their target price on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Oppenheimer raised their price objective on Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a report on Monday, July 6th. Rosenblatt Securities upped their target price on shares of Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Benchmark assumed coverage on shares of Ceva in a research report on Wednesday, July 15th. They set a “hold” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.80.

Ceva Stock Down 9.9%

NASDAQ:CEVA opened at $31.70 on Wednesday. Ceva, Inc. has a 52 week low of $17.02 and a 52 week high of $51.60. The stock’s fifty day moving average is $42.95 and its two-hundred day moving average is $30.18. The stock has a market capitalization of $883.16 million, a price-to-earnings ratio of -70.44 and a beta of 1.96.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data 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 firm had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect 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.