DNB Asset Management AS Has $1.57 Million Stake in Ceva, Inc. $CEVA

DNB Asset Management AS boosted its stake in shares of Ceva, Inc. (NASDAQ:CEVA) by 71.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,447 shares of the semiconductor company’s stock after acquiring an additional 24,778 shares during the quarter. DNB Asset Management AS owned 0.25% of Ceva worth $1,570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CEVA. State of Wyoming bought a new stake in shares of Ceva in the 3rd quarter worth about $39,000. AlphaQuest LLC boosted its position in Ceva by 123.6% in the second 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 in the last quarter. Tower Research Capital LLC TRC grew its stake in Ceva by 422.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after buying an additional 2,208 shares during the last quarter. ProShare Advisors LLC increased 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 buying an additional 479 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 valued at $222,000 after acquiring an additional 3,500 shares during the last quarter. 85.37% of the stock is owned by institutional investors.

Ceva Stock Down 2.2%

Ceva stock opened at $20.97 on Wednesday. The business’s 50-day simple moving average is $21.97 and its 200 day simple moving average is $23.58. The stock has a market cap of $581.92 million, a price-to-earnings ratio of -48.77 and a beta of 1.49. Ceva, Inc. has a 12-month low of $18.23 and a 12-month high of $33.90.

Ceva (NASDAQ:CEVA) last released its earnings results on Tuesday, February 17th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $31.29 million for the quarter, compared to the consensus estimate of $31.03 million. Ceva had a negative net margin of 9.71% and a negative return on equity of 3.15%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. As a group, sell-side analysts expect that Ceva, Inc. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus initiated coverage on Ceva in a research report on Tuesday, February 10th. They set a “buy” rating and a $30.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Friday, January 9th. Barclays lifted their price target on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective on shares of Ceva in a report on Wednesday, February 18th. Finally, Oppenheimer restated an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of Ceva in a research report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ceva currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.67.

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.