Rhumbline Advisers Has $1.75 Million Holdings in Ceva, Inc. (NASDAQ:CEVA)

Rhumbline Advisers trimmed its holdings in shares of Ceva, Inc. (NASDAQ:CEVA) by 6.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,424 shares of the semiconductor company’s stock after selling 4,846 shares during the period. Rhumbline Advisers owned approximately 0.29% of Ceva worth $1,752,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Ceva by 3,600.0% in the first quarter. GAMMA Investing LLC now owns 88,022 shares of the semiconductor company’s stock valued at $2,254,000 after acquiring an additional 85,643 shares during the period. Centaurus Financial Inc. raised its holdings in Ceva by 5.9% during the fourth quarter. Centaurus Financial Inc. now owns 19,158 shares of the semiconductor company’s stock worth $604,000 after buying an additional 1,075 shares during the last quarter. AWM Investment Company Inc. grew its holdings in shares of Ceva by 18.0% during the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company’s stock valued at $18,935,000 after buying an additional 91,668 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Ceva by 9.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,546 shares of the semiconductor company’s stock worth $1,279,000 after acquiring an additional 3,584 shares in the last quarter. Finally, Man Group plc acquired a new stake in shares of Ceva in the 4th quarter worth about $1,484,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Trading Down 1.7%

CEVA stock opened at $20.13 on Wednesday. Ceva, Inc. has a 1-year low of $16.02 and a 1-year high of $38.94. The stock has a market cap of $481.31 million, a P/E ratio of -71.89 and a beta of 1.23. The stock’s fifty day simple moving average is $22.17 and its two-hundred day simple moving average is $28.12.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $26.55 million. Ceva had a negative return on equity of 1.75% and a negative net margin of 6.11%. Ceva’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. As a group, analysts forecast that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on CEVA shares. Barclays decreased their price objective on Ceva from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Oppenheimer dropped their price objective on Ceva from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Wall Street Zen lowered shares of Ceva from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $40.00 price target on shares of Ceva in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Ceva currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.60.

Ceva Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.