Hsbc Holdings PLC Buys Shares of 23,791 Ceva, Inc. $CEVA

Hsbc Holdings PLC purchased a new stake in Ceva, Inc. (NASDAQ:CEVA) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 23,791 shares of the semiconductor company’s stock, valued at approximately $1,122,000.

Other hedge funds have also made changes to their positions in the company. Deutsche Bank AG acquired a new position in Ceva in the second quarter valued at approximately $33,941,000. BlackRock Inc. acquired a new stake in Ceva during the second quarter worth $113,995,000. GSA Capital Partners LLP acquired a new stake in Ceva during the second quarter worth $1,512,000. Oaktop Capital Management II L.P. purchased a new stake in Ceva in the second quarter valued at $21,051,000. Finally, Rice Hall James & Associates LLC purchased a new stake in Ceva in the second quarter valued at $4,612,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CEVA shares. Benchmark reaffirmed a “hold” rating on shares of Ceva in a research note on Tuesday, August 11th. Roth Capital reissued a “buy” rating and set a $40.00 price objective on shares of Ceva in a research report on Monday, May 11th. Stifel Nicolaus boosted their price objective on shares of Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 10th. JPMorgan Chase & Co. assumed coverage on shares of Ceva in a research report on Friday, May 8th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, TD Cowen lowered their target price on shares of Ceva from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ceva has an average rating of “Moderate Buy” and an average target price of $40.60.

Ceva Stock Down 0.3%

Shares of NASDAQ CEVA opened at $27.05 on Tuesday. The business’s 50 day moving average is $36.50 and its two-hundred day moving average is $31.62. Ceva, Inc. has a 52-week low of $17.02 and a 52-week high of $51.60. The firm has a market cap of $761.46 million, a price-to-earnings ratio of -67.62 and a beta of 1.99.

Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%.The business had revenue of $29.03 million during the quarter, compared to analyst estimates of $28.19 million. During the same period last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts anticipate that Ceva, Inc. will post -0.17 EPS for the current fiscal year.

Ceva Company 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.