Ceva, Inc. $CEVA Shares Purchased by DNB Asset Management AS

DNB Asset Management AS lifted its position in Ceva, Inc. (NASDAQ:CEVA) by 118.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,717 shares of the semiconductor company’s stock after purchasing an additional 70,270 shares during the quarter. DNB Asset Management AS’s holdings in Ceva were worth $2,792,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CEVA. State of Wyoming acquired a new stake in shares of Ceva in the 3rd quarter valued at about $39,000. Tower Research Capital LLC TRC boosted its position in shares of Ceva by 422.2% in 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. Russell Investments Group Ltd. boosted its position in shares of Ceva by 771.8% in 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ceva by 47.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 2,172 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Ceva by 52.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,907 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 2,730 shares during the period. 85.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CEVA. Rosenblatt Securities upped their target price on Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Oppenheimer upped their target price on Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on Ceva in a research report on Friday, May 8th. They issued a “neutral” rating and a $30.00 target price for the company. TD Cowen upped their price objective on Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, UBS Group upped their price objective on Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.44.

Ceva Stock Down 0.4%

CEVA opened at $36.44 on Wednesday. The business has a 50 day moving average price of $24.48 and a two-hundred day moving average price of $23.06. The company has a market cap of $1.02 billion, a PE ratio of -80.98 and a beta of 1.94. Ceva, Inc. has a 52 week low of $17.02 and a 52 week high of $39.94.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.12 million. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. As a group, sell-side analysts expect that Ceva, Inc. will post -0.24 EPS for the current fiscal 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.