Handelsbanken Fonder AB Grows Position in Ceva, Inc. $CEVA

Handelsbanken Fonder AB raised its holdings in shares of Ceva, Inc. (NASDAQ:CEVA) by 92.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 684,465 shares of the semiconductor company’s stock after purchasing an additional 329,047 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ceva were worth $14,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CEVA. State of Wyoming purchased a new stake in Ceva during the third quarter valued at about $39,000. Tower Research Capital LLC TRC lifted its holdings in Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,208 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Ceva by 771.8% during the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 2,107 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ceva by 47.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 2,172 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Ceva by 52.7% during the third quarter. BNP Paribas Financial Markets now owns 7,907 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 2,730 shares during the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ceva Trading Up 1.1%

Shares of Ceva stock opened at $38.44 on Friday. Ceva, Inc. has a 12-month low of $17.02 and a 12-month high of $39.94. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -85.42 and a beta of 1.94. The company’s 50-day moving average price is $25.22 and its 200-day moving average price is $23.22.

Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. Ceva’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. On average, sell-side analysts predict that Ceva, Inc. will post -0.24 earnings per share for the current year.

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.