Hsbc Holdings PLC Makes New $777,000 Investment in Ceva, Inc. $CEVA

Hsbc Holdings PLC bought a new stake in Ceva, Inc. (NASDAQ:CEVA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,068 shares of the semiconductor company’s stock, valued at approximately $777,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CEVA. VARCOV Co. purchased a new stake in shares of Ceva during the 4th quarter worth approximately $498,000. Tudor Investment Corp ET AL purchased a new position in Ceva in the fourth quarter valued at approximately $305,000. Quadrature Capital Ltd bought a new position in Ceva during the fourth quarter valued at $383,000. Numerai GP LLC bought a new stake in shares of Ceva in the fourth quarter valued at $1,042,000. Finally, Millennium Management LLC raised its stake in shares of Ceva by 2,735.2% in the fourth quarter. Millennium Management LLC now owns 595,599 shares of the semiconductor company’s stock valued at $12,817,000 after buying an additional 574,592 shares during the period. 85.37% of the stock is owned by institutional investors.

Ceva Price Performance

NASDAQ:CEVA opened at $43.53 on Wednesday. The company has a market cap of $1.21 billion, a P/E ratio of -96.73 and a beta of 1.96. The stock’s fifty day moving average price is $42.67 and its two-hundred day moving average price is $29.08. Ceva, Inc. has a 1 year low of $17.02 and a 1 year high of $51.60.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $27.02 million during 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 business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. On average, analysts expect that Ceva, Inc. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CEVA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research report on Monday, July 6th. UBS Group lifted their price objective on Ceva from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Stifel Nicolaus upped their price objective on shares of Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 10th. Roth Capital reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ceva in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. began coverage on shares of Ceva in a research report on Friday, May 8th. They set a “neutral” rating and a $30.00 target price for the company. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.