Orser Capital Management LLC Takes Position in Ceva, Inc. $CEVA

Orser Capital Management LLC bought a new position in shares of Ceva, Inc. (NASDAQ:CEVA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,750 shares of the semiconductor company’s stock, valued at approximately $1,262,000. Orser Capital Management LLC owned approximately 0.10% of Ceva as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Senvest Management LLC lifted its stake in Ceva by 8.0% in the 4th quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company’s stock valued at $51,380,000 after buying an additional 177,765 shares in the last quarter. Neuberger Berman Group LLC increased its stake 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 in the last quarter. AWM Investment Company Inc. raised its holdings in shares of Ceva by 24.1% during the fourth quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock valued at $17,814,000 after acquiring an additional 160,644 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Ceva by 92.6% during the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock valued at $14,730,000 after acquiring an additional 329,047 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Ceva by 40.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock valued at $13,624,000 after acquiring an additional 179,098 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Stock Performance

NASDAQ:CEVA opened at $35.59 on Friday. Ceva, Inc. has a one year low of $17.02 and a one year high of $51.60. The stock has a market cap of $991.54 million, a PE ratio of -79.09 and a beta of 1.99. The stock has a 50 day moving average price of $42.06 and a 200 day moving average price of $30.70.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $27.02 million for the quarter, compared to analyst estimates 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 for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, analysts predict that Ceva, Inc. will post -0.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CEVA has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research report on Monday, July 6th. JPMorgan Chase & Co. assumed coverage on Ceva in a report on Friday, May 8th. They issued a “neutral” rating and a $30.00 price objective on the stock. Needham & Company LLC started coverage on shares of Ceva in a research note on Monday, June 15th. They set a “buy” rating and a $55.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Ceva from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Roth Capital reiterated a “buy” rating and issued a $40.00 target price on shares of Ceva in a research report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.