Nano Cap New Millennium Growth Fund L P Invests $603,000 in Ceva, Inc. $CEVA

Nano Cap New Millennium Growth Fund L P acquired a new position in Ceva, Inc. (NASDAQ:CEVA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,000 shares of the semiconductor company’s stock, valued at approximately $603,000.

Several other institutional investors also recently bought and sold shares of CEVA. American Century Companies Inc. raised its position in Ceva by 3.1% during the second quarter. American Century Companies Inc. now owns 53,354 shares of the semiconductor company’s stock valued at $1,173,000 after acquiring an additional 1,619 shares in the last quarter. Norges Bank purchased a new position in Ceva during the second quarter valued at approximately $495,000. Invesco Ltd. raised its position in Ceva by 8.5% during the second quarter. Invesco Ltd. now owns 161,116 shares of the semiconductor company’s stock valued at $3,541,000 after acquiring an additional 12,657 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Ceva by 243.9% during the second quarter. Qube Research & Technologies Ltd now owns 93,103 shares of the semiconductor company’s stock valued at $2,046,000 after acquiring an additional 66,032 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in Ceva by 835.6% during the second quarter. Squarepoint Ops LLC now owns 86,150 shares of the semiconductor company’s stock valued at $1,894,000 after acquiring an additional 76,942 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Ceva Stock Up 1.1%

Ceva stock opened at $38.44 on Friday. Ceva, Inc. has a 52-week low of $17.02 and a 52-week high of $39.94. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -85.42 and a beta of 1.94. The company has a fifty day simple moving average of $25.22 and a 200-day simple moving average of $23.22.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, beating 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 firm had revenue of $27.02 million during the quarter, compared to analysts’ expectations of $26.12 million. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Ceva, Inc. will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CEVA. TD Cowen lifted their price target on Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Rosenblatt Securities upped their price objective on shares of Ceva from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Stifel Nicolaus set a $42.00 price objective on shares of Ceva in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Ceva in a research report on Friday, May 8th. They issued a “neutral” rating and a $30.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ceva has an average rating of “Moderate Buy” and an average price target of $39.44.

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.