Hsbc Holdings PLC Increases Stock Holdings in Ceva, Inc. $CEVA

Hsbc Holdings PLC boosted its stake in Ceva, Inc. (NASDAQ:CEVA) by 48.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 53,492 shares of the semiconductor company’s stock after acquiring an additional 17,424 shares during the quarter. Hsbc Holdings PLC owned 0.19% of Ceva worth $972,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 during the period. Tower Research Capital LLC TRC raised its position 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 worth $60,000 after purchasing an additional 2,208 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in 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 buying an additional 2,107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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 buying an additional 2,172 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Ceva by 15.4% in the 4th quarter. Intech Investment Management LLC now owns 9,415 shares of the semiconductor company’s stock worth $203,000 after buying an additional 1,258 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Trading Down 9.9%

CEVA stock opened at $31.70 on Wednesday. The firm has a 50-day moving average of $42.95 and a two-hundred day moving average of $30.18. Ceva, Inc. has a 12 month low of $17.02 and a 12 month high of $51.60. The company has a market cap of $883.16 million, a price-to-earnings ratio of -70.44 and a beta of 1.96.

Ceva (NASDAQ:CEVA) last issued its earnings results 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 business had revenue of $27.02 million for the quarter, compared to analysts’ expectations of $26.12 million. During the same period in the previous year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts forecast that Ceva, Inc. will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

CEVA has been the subject of several research reports. JPMorgan Chase & Co. began coverage on Ceva in a research note on Friday, May 8th. They set a “neutral” rating and a $30.00 price objective for the company. Oppenheimer lifted their price target on Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. UBS Group boosted their price target on Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research note on Monday, July 6th. Finally, Needham & Company LLC initiated coverage on Ceva in a report on Monday, June 15th. They issued a “buy” rating and a $55.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ceva currently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

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.