AlphaQuest LLC Sells 2,579 Shares of Ceva, Inc. $CEVA

AlphaQuest LLC reduced its holdings in shares of Ceva, Inc. (NASDAQ:CEVA) by 70.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,096 shares of the semiconductor company’s stock after selling 2,579 shares during the quarter. AlphaQuest LLC’s holdings in Ceva were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CEVA. Price T Rowe Associates Inc. MD bought a new stake in shares of Ceva during the 4th quarter worth $292,000. Northern Trust Corp raised its position in Ceva by 14.3% in the fourth quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company’s stock valued at $8,530,000 after purchasing an additional 33,737 shares during the last quarter. BNP Paribas Financial Markets raised its position in Ceva by 62.2% in the fourth quarter. BNP Paribas Financial Markets now owns 42,885 shares of the semiconductor company’s stock valued at $1,353,000 after purchasing an additional 16,453 shares during the last quarter. Deutsche Bank AG raised its position in Ceva by 6.5% in the fourth quarter. Deutsche Bank AG now owns 118,554 shares of the semiconductor company’s stock valued at $3,740,000 after purchasing an additional 7,225 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Ceva in the fourth quarter valued at about $457,000. 85.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CEVA has been the subject of several research reports. Oppenheimer dropped their target price on Ceva from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Ceva in a research report on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $35.60.

Ceva Trading Up 1.6%

Shares of CEVA stock opened at $22.73 on Friday. The stock has a market cap of $542.79 million, a price-to-earnings ratio of -54.12 and a beta of 1.26. The stock has a 50-day moving average of $22.61 and a 200-day moving average of $24.13. Ceva, Inc. has a 1-year low of $18.31 and a 1-year high of $38.94.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings results on Monday, August 11th. The semiconductor company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $25.68 million during the quarter, compared to analysts’ expectations of $25.33 million. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Sell-side analysts forecast that Ceva, Inc. will post -0.12 earnings per share for the current 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.