26,750 Shares in Ceva, Inc. $CEVA Acquired by Orser Capital Management LLC

Orser Capital Management LLC purchased a new position in shares of Ceva, Inc. (NASDAQ:CEVA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,750 shares of the semiconductor company’s stock, valued at approximately $1,262,000.

A number of other institutional investors have also modified their holdings of the company. Millennium Management LLC grew its position in Ceva by 2,735.2% in the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock valued at $12,817,000 after acquiring an additional 574,592 shares in the last quarter. Defiance ETFs LLC acquired a new stake in shares of Ceva during the fourth quarter worth about $10,420,000. Handelsbanken Fonder AB boosted its stake in shares of Ceva by 92.6% in the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock valued at $14,730,000 after purchasing an additional 329,047 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of 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 purchasing an additional 305,540 shares in the last quarter. Finally, HRT Financial LP acquired a new position in shares of Ceva in the fourth quarter valued at approximately $5,182,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Trading Up 3.9%

Ceva stock opened at $35.59 on Friday. The company has a fifty day simple moving average of $42.06 and a 200-day simple moving average of $30.70. The stock has a market cap of $991.54 million, a P/E ratio of -79.09 and a beta of 1.99. Ceva, Inc. has a 12-month low of $17.02 and a 12-month high of $51.60.

Ceva (NASDAQ:CEVA) last posted its earnings results on Monday, May 11th. The semiconductor company reported $0.04 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 analyst estimates of $26.12 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. Ceva’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ceva, Inc. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Benchmark started coverage on shares of Ceva in a research note on Wednesday, July 15th. They issued a “hold” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Monday, July 6th. JPMorgan Chase & Co. assumed coverage on Ceva in a research note on Friday, May 8th. They set a “neutral” rating and a $30.00 target price for the company. Stifel Nicolaus upped their price target on Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Needham & Company LLC began coverage on Ceva in a research report on Monday, June 15th. They issued a “buy” rating and a $55.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.80.

Ceva 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.