Handelsbanken Fonder AB Has $9.39 Million Position in Ceva, Inc. $CEVA

Handelsbanken Fonder AB raised its holdings in shares of Ceva, Inc. (NASDAQ:CEVA) by 1,287.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,418 shares of the semiconductor company’s stock after purchasing an additional 329,802 shares during the quarter. Handelsbanken Fonder AB owned approximately 1.49% of Ceva worth $9,387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DNB Asset Management AS lifted its stake in shares of Ceva by 71.5% during the 3rd quarter. DNB Asset Management AS now owns 59,447 shares of the semiconductor company’s stock worth $1,570,000 after buying an additional 24,778 shares during the last quarter. Herald Investment Management Ltd raised its holdings in Ceva by 12.5% in the 3rd quarter. Herald Investment Management Ltd now owns 450,000 shares of the semiconductor company’s stock valued at $11,884,000 after acquiring an additional 50,000 shares during the period. Public Sector Pension Investment Board lifted its position in Ceva by 14.2% during the third quarter. Public Sector Pension Investment Board now owns 93,113 shares of the semiconductor company’s stock worth $2,459,000 after acquiring an additional 11,551 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Ceva by 8.7% during the third quarter. Illinois Municipal Retirement Fund now owns 12,093 shares of the semiconductor company’s stock worth $319,000 after acquiring an additional 968 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in shares of Ceva during the third quarter worth approximately $11,410,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CEVA. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 target price on shares of Ceva in a research note on Wednesday, February 18th. Stifel Nicolaus initiated coverage on Ceva in a report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. UBS Group initiated coverage on shares of Ceva in a research report on Wednesday, February 25th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Loop Capital began coverage on shares of Ceva in a research note on Monday, December 1st. They issued a “buy” rating and a $28.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ceva currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.67.

Ceva Stock Performance

CEVA opened at $20.86 on Monday. Ceva, Inc. has a 52-week low of $18.23 and a 52-week high of $34.82. The firm has a market cap of $501.06 million, a P/E ratio of -48.51 and a beta of 1.49. The business’s fifty day moving average is $22.00 and its 200-day moving average is $23.61.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $31.29 million during the quarter, compared to analysts’ expectations of $31.03 million. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. Ceva’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. On average, research analysts predict that Ceva, Inc. will post -0.12 earnings per share 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.