Ceva, Inc. $CEVA Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in Ceva, Inc. (NASDAQ:CEVA) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,800 shares of the semiconductor company’s stock after selling 700 shares during the period. Swiss National Bank owned about 0.19% of Ceva worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Deutsche Bank AG raised its position in Ceva by 24.4% in the 1st quarter. Deutsche Bank AG now owns 147,493 shares of the semiconductor company’s stock valued at $3,777,000 after purchasing an additional 28,939 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ceva by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 231,369 shares of the semiconductor company’s stock worth $5,925,000 after acquiring an additional 4,624 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ceva by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 2,446,574 shares of the semiconductor company’s stock worth $62,657,000 after acquiring an additional 281,274 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Ceva during the 1st quarter worth about $225,000. Finally, D.A. Davidson & CO. raised its position in shares of Ceva by 5.7% during the 1st quarter. D.A. Davidson & CO. now owns 63,437 shares of the semiconductor company’s stock worth $1,625,000 after acquiring an additional 3,423 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays cut their target price on Ceva from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Ceva in a research report on Thursday, August 14th. Finally, Oppenheimer cut their target price on Ceva from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ceva currently has an average rating of “Buy” and a consensus target price of $35.60.

Ceva Stock Down 2.8%

CEVA opened at $22.85 on Tuesday. The firm has a market cap of $545.70 million, a price-to-earnings ratio of -54.40 and a beta of 1.25. Ceva, Inc. has a 52 week low of $18.31 and a 52 week high of $38.94. The business’s 50 day moving average is $22.42 and its two-hundred day moving average is $24.71.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $25.68 million for the quarter, compared to analyst estimates of $25.33 million. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The firm’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. Equities analysts expect that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

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.