Centaurus Financial Inc. Acquires Shares of 50,374 Ceva, Inc. $CEVA

Centaurus Financial Inc. bought a new position in shares of Ceva, Inc. (NASDAQ:CEVA) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 50,374 shares of the semiconductor company’s stock, valued at approximately $2,376,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in Ceva in the second quarter valued at about $49,000. Hantz Financial Services Inc. grew its position in shares of Ceva by 77.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 632 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Ceva by 771.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 2,107 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Ceva by 422.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,208 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ceva by 47.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 2,172 shares in the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CEVA. Needham & Company LLC cut their target price on Ceva from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Rosenblatt Securities increased their price target on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Benchmark restated a “hold” rating on shares of Ceva in a research report on Tuesday, August 11th. UBS Group raised their price objective on shares of Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, TD Cowen reduced their price objective on shares of Ceva from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ceva presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Ceva Stock Up 2.9%

Shares of NASDAQ CEVA opened at $28.42 on Friday. The firm has a market capitalization of $800.02 million, a P/E ratio of -71.05 and a beta of 1.99. The stock’s 50-day simple moving average is $37.38 and its two-hundred day simple moving average is $31.56. Ceva, Inc. has a twelve month low of $17.02 and a twelve month high of $51.60.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $29.03 million for the quarter, compared to analysts’ expectations of $28.19 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. As a group, research analysts anticipate that Ceva, Inc. will post -0.17 EPS for the current fiscal year.

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.