432,044 Shares in Ceva, Inc. $CEVA Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC purchased a new stake in shares of Ceva, Inc. (NASDAQ:CEVA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 432,044 shares of the semiconductor company’s stock, valued at approximately $11,410,000. Penserra Capital Management LLC owned approximately 1.81% of Ceva at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State of Wyoming bought a new stake in shares of Ceva during the third quarter worth $39,000. FNY Investment Advisers LLC acquired a new position in Ceva during the 2nd quarter worth about $42,000. AlphaQuest LLC grew its holdings in Ceva by 123.6% during the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 1,355 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Ceva by 422.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 2,208 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Ceva by 71.5% in the third quarter. New York State Common Retirement Fund now owns 8,396 shares of the semiconductor company’s stock worth $222,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

Ceva Price Performance

NASDAQ CEVA opened at $20.67 on Thursday. Ceva, Inc. has a one year low of $18.23 and a one year high of $38.94. The firm has a market cap of $496.49 million, a P/E ratio of -44.93 and a beta of 1.50. The stock’s 50-day moving average is $22.15 and its 200-day moving average is $23.73.

Ceva (NASDAQ:CEVA) last issued its quarterly earnings data on Monday, November 10th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $28.38 million for the quarter, compared to analyst estimates of $28.04 million. Ceva had a negative net margin of 10.49% and a negative return on equity of 3.54%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. Equities analysts anticipate that Ceva, Inc. will post -0.12 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on CEVA shares. Barclays increased their price target on shares of Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Ceva in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research report on Friday, January 9th. Finally, Loop Capital assumed coverage on Ceva in a report on Monday, December 1st. They issued a “buy” rating and a $28.00 price target on the stock. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Ceva Profile

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.