Ceva, Inc. $CEVA Shares Acquired by Tidal Investments LLC

Tidal Investments LLC increased its holdings in Ceva, Inc. (NASDAQ:CEVA) by 202.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 58,121 shares of the semiconductor company’s stock after buying an additional 38,876 shares during the period. Tidal Investments LLC’s holdings in Ceva were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Ceva during the second quarter valued at approximately $113,995,000. AWM Investment Company Inc. acquired a new position in Ceva during the second quarter worth $37,719,000. Deutsche Bank AG acquired a new position in shares of Ceva during the 2nd quarter worth about $33,941,000. Oaktop Capital Management II L.P. acquired a new position in shares of Ceva during the second quarter valued at approximately $21,051,000. Finally, Handelsbanken Fonder AB raised its stake in Ceva by 92.6% in the 4th quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock valued at $14,730,000 after purchasing an additional 329,047 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Price Performance

CEVA opened at $27.91 on Wednesday. The stock has a market capitalization of $785.67 million, a P/E ratio of -69.77 and a beta of 1.97. Ceva, Inc. has a 12 month low of $17.02 and a 12 month high of $51.60. The business has a 50 day simple moving average of $32.92 and a 200-day simple moving average of $32.11.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on CEVA shares. Oppenheimer decreased their target price on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. TD Cowen reduced their price objective on shares of Ceva from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Rosenblatt Securities upped their price objective on shares of Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Ceva from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Needham & Company LLC lowered their price objective on Ceva from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ceva currently has an average rating of “Moderate Buy” and an average price target of $40.60.

About Ceva

CEVA, Inc (NASDAQ: CEVA) is a semiconductor intellectual property company that develops and licenses processor cores, connectivity platforms and software for use in wireless communications, consumer electronics, automotive systems, industrial equipment and the Internet of Things. Rather than manufacturing chips, CEVA provides technology that semiconductor companies and original equipment manufacturers can incorporate into their own products.

The company’s portfolio includes digital signal processors, artificial intelligence and neural processing technologies, computer vision and sensor-fusion solutions, and platforms for wireless connectivity.