Ceva, Inc. (NASDAQ:CEVA) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Ceva, Inc. (NASDAQ:CEVA) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,894 shares of the semiconductor company’s stock after purchasing an additional 2,629 shares during the quarter. Principal Financial Group Inc. owned 0.49% of Ceva worth $3,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CEVA. Harvest Fund Management Co. Ltd acquired a new stake in Ceva in the 4th quarter valued at $40,000. Meeder Asset Management Inc. acquired a new stake in Ceva in the 4th quarter valued at $46,000. GAMMA Investing LLC grew its stake in Ceva by 44.5% in the 1st quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 1,058 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Ceva in the 4th quarter valued at $129,000. Finally, Intech Investment Management LLC purchased a new position in Ceva in the 4th quarter valued at $241,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Trading Down 0.1%

Shares of NASDAQ:CEVA opened at $23.24 on Friday. The business has a 50-day moving average price of $21.25 and a 200 day moving average price of $26.65. The company has a market capitalization of $555.67 million, a price-to-earnings ratio of -83.00 and a beta of 1.26. Ceva, Inc. has a 12-month low of $16.02 and a 12-month high of $38.94.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price objective on shares of Ceva in a report on Thursday, May 8th. Oppenheimer reduced their price target on Ceva from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Barclays reduced their price target on Ceva from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen lowered Ceva from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ceva has an average rating of “Moderate Buy” and an average price target 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.