SG Americas Securities LLC Sells 13,770 Shares of Ceva, Inc. $CEVA

SG Americas Securities LLC reduced its stake in shares of Ceva, Inc. (NASDAQ:CEVA) by 58.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,594 shares of the semiconductor company’s stock after selling 13,770 shares during the quarter. SG Americas Securities LLC’s holdings in Ceva were worth $179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC grew its position in Ceva by 2,735.2% in the 4th quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock worth $12,817,000 after purchasing an additional 574,592 shares during the last quarter. Defiance ETFs LLC acquired a new position in Ceva in the 4th quarter valued at approximately $10,420,000. Handelsbanken Fonder AB lifted its position in Ceva by 92.6% in the fourth quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock worth $14,730,000 after purchasing an additional 329,047 shares during the period. Neuberger Berman Group LLC boosted its stake in Ceva by 44.1% during the fourth 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. Finally, HRT Financial LP acquired a new stake in Ceva during the fourth quarter worth $5,182,000. 85.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a research note on Friday, May 8th. They issued a “neutral” rating and a $30.00 price objective for the company. Roth Capital reiterated a “buy” rating and set a $40.00 target price on shares of Ceva in a research report on Monday, May 11th. TD Cowen upped their target price on shares of Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Needham & Company LLC assumed coverage on shares of Ceva in a research report on Monday, June 15th. They issued a “buy” rating and a $55.00 price target for the company. Finally, Oppenheimer raised their price target on shares of Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.80.

Ceva Stock Down 2.7%

Ceva stock traded down $1.27 during mid-day trading on Friday, hitting $45.54. 959,264 shares of the company were exchanged, compared to its average volume of 713,783. The business has a fifty day moving average of $42.23 and a 200 day moving average of $28.73. Ceva, Inc. has a 1-year low of $17.02 and a 1-year high of $51.60. The company has a market capitalization of $1.27 billion, a PE ratio of -101.20 and a beta of 1.96.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $27.02 million during the quarter, compared to analysts’ expectations of $26.12 million. During the same period last year, the business earned $0.06 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Research analysts expect 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.