Aster Capital Management DIFC Ltd Makes New Investment in Ceva, Inc. $CEVA

Aster Capital Management DIFC Ltd bought a new position in shares of Ceva, Inc. (NASDAQ:CEVA) during the 4th quarter, Holdings Channel.com reports. The firm bought 23,097 shares of the semiconductor company’s stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Senvest Management LLC lifted its holdings in 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 period. Neuberger Berman Group LLC lifted its holdings in Ceva by 44.1% during the 4th quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after buying an additional 305,540 shares during the period. AWM Investment Company Inc. lifted its holdings in Ceva by 24.1% during the 4th quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock worth $17,814,000 after buying an additional 160,644 shares during the period. Handelsbanken Fonder AB lifted its holdings in Ceva by 92.6% during the 4th quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock worth $14,730,000 after buying an additional 329,047 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Ceva by 40.6% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after buying an additional 179,098 shares during the period. 85.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on CEVA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. Needham & Company LLC began coverage on Ceva in a report on Monday. They set a “buy” rating and a $55.00 target price on the stock. JPMorgan Chase & Co. began coverage on Ceva in a report on Friday, May 8th. They set a “neutral” rating and a $30.00 target price on the stock. Stifel Nicolaus set a $42.00 price objective on Ceva in a research report on Tuesday, May 12th. Finally, Rosenblatt Securities lifted their price objective on Ceva from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ceva has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Ceva Trading Up 5.3%

CEVA stock opened at $48.45 on Tuesday. The stock has a 50-day moving average price of $33.84 and a 200-day moving average price of $25.66. Ceva, Inc. has a 1-year low of $17.02 and a 1-year high of $51.25. The firm has a market cap of $1.35 billion, a PE ratio of -107.67 and a beta of 2.00.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $26.12 million. During the same period last year, the company posted $0.06 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Ceva, Inc. will post -0.21 earnings per share for the current year.

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.