Ceva, Inc. $CEVA Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its position in shares of Ceva, Inc. (NASDAQ:CEVA) by 24.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 653,013 shares of the semiconductor company’s stock after purchasing an additional 126,267 shares during the period. Acadian Asset Management LLC owned approximately 2.73% of Ceva worth $14,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC boosted its stake in shares of Ceva by 123.6% during the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 1,355 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Ceva during the 2nd quarter worth approximately $42,000. D.A. Davidson & CO. grew its position in shares of Ceva by 4.2% in the 2nd quarter. D.A. Davidson & CO. now owns 66,101 shares of the semiconductor company’s stock worth $1,453,000 after acquiring an additional 2,664 shares in the last quarter. Herald Investment Management Ltd increased its holdings in shares of Ceva by 23.1% in the 2nd quarter. Herald Investment Management Ltd now owns 400,000 shares of the semiconductor company’s stock valued at $8,780,000 after acquiring an additional 75,000 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Ceva by 8.9% during the second quarter. State of Alaska Department of Revenue now owns 14,252 shares of the semiconductor company’s stock worth $313,000 after purchasing an additional 1,160 shares during the period. 85.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CEVA. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Ceva in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Ceva Stock Performance

Shares of NASDAQ CEVA opened at $26.08 on Wednesday. Ceva, Inc. has a 1 year low of $18.31 and a 1 year high of $38.94. The stock has a fifty day moving average price of $26.51 and a two-hundred day moving average price of $23.65. The firm has a market cap of $622.84 million, a P/E ratio of -62.09 and a beta of 1.32.

Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, November 10th. The semiconductor company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The business had revenue of $28.38 million during the quarter, compared to analysts’ expectations of $28.04 million. During the same quarter last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts predict that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

About Ceva

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.