Aster Capital Management DIFC Ltd Makes New Investment in Ceva, Inc. $CEVA

Aster Capital Management DIFC Ltd acquired a new position in shares of Ceva, Inc. (NASDAQ:CEVA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 23,097 shares of the semiconductor company’s stock, valued at approximately $497,000. Aster Capital Management DIFC Ltd owned 0.10% of Ceva at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CEVA. Hantz Financial Services Inc. increased its stake in Ceva by 77.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 632 shares during the period. Tower Research Capital LLC TRC increased its stake in Ceva by 422.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 2,208 shares during the period. Russell Investments Group Ltd. increased its stake in Ceva by 771.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after acquiring an additional 2,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ceva by 47.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 2,172 shares during the period. Finally, Intech Investment Management LLC increased its stake in Ceva by 15.4% during the 4th quarter. Intech Investment Management LLC now owns 9,415 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 1,258 shares during the period. Institutional investors own 85.37% of the company’s stock.

Ceva Stock Up 5.3%

NASDAQ CEVA opened at $48.45 on Tuesday. Ceva, Inc. has a twelve month low of $17.02 and a twelve month high of $51.25. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -107.67 and a beta of 2.00. The business’s fifty day moving average is $33.84 and its 200 day moving average is $25.66.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The company had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. During the same quarter last year, the business posted $0.06 EPS. Ceva’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Ceva, Inc. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CEVA. Stifel Nicolaus set a $42.00 target price on Ceva in a report on Tuesday, May 12th. Oppenheimer raised their target price on Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on Ceva in a report on Friday, May 8th. They issued a “neutral” rating and a $30.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. Finally, UBS Group raised their target price on Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.