Handelsbanken Fonder AB Invests $563,000 in Ceva, Inc. $CEVA

Handelsbanken Fonder AB acquired a new stake in shares of Ceva, Inc. (NASDAQ:CEVA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,616 shares of the semiconductor company’s stock, valued at approximately $563,000. Handelsbanken Fonder AB owned about 0.11% of Ceva at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CEVA. FNY Investment Advisers LLC purchased a new stake in Ceva during the 2nd quarter valued at about $42,000. AlphaQuest LLC raised its stake in shares of Ceva by 123.6% in the second quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 1,355 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ceva in the first quarter worth about $225,000. ProShare Advisors LLC lifted its holdings in shares of Ceva by 5.1% during the second quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock worth $217,000 after purchasing an additional 479 shares during the period. Finally, PEAK6 LLC purchased a new stake in Ceva in the first quarter valued at approximately $256,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Analyst Upgrades and Downgrades

CEVA has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Tuesday, October 14th. Barclays raised their target price on shares of Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Ceva in a report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ceva has an average rating of “Moderate Buy” and an average target price of $35.75.

Ceva Price Performance

CEVA opened at $21.49 on Friday. The firm has a fifty day moving average price of $25.90 and a 200 day moving average price of $23.41. Ceva, Inc. has a 1 year low of $18.23 and a 1 year high of $38.94. The stock has a market cap of $516.03 million, a P/E ratio of -51.15 and a beta of 1.32.

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

Ceva Company 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.