Ceva, Inc. $CEVA Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Ceva, Inc. (NASDAQ:CEVA) by 58.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,594 shares of the semiconductor company’s stock after selling 13,770 shares during the quarter. SG Americas Securities LLC’s holdings in Ceva were worth $179,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CEVA. Hantz Financial Services Inc. boosted its holdings in Ceva by 77.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after buying an additional 632 shares in the last quarter. Tower Research Capital LLC TRC increased its stake 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 worth $60,000 after purchasing an additional 2,208 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Ceva by 771.8% during the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock valued at $63,000 after buying an additional 2,107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ceva by 47.4% in the fourth 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 in the last quarter. Finally, Intech Investment Management LLC boosted its stake in Ceva by 15.4% in the 4th quarter. Intech Investment Management LLC now owns 9,415 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 1,258 shares during the period. Institutional investors own 85.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CEVA. Oppenheimer increased their price objective on Ceva from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Needham & Company LLC started coverage on shares of Ceva in a research note on Monday, June 15th. They set a “buy” rating and a $55.00 target price for the company. JPMorgan Chase & Co. began coverage on Ceva in a report on Friday, May 8th. They set a “neutral” rating and a $30.00 price objective for the company. Rosenblatt Securities raised their price target on Ceva from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Roth Capital restated a “buy” rating and issued a $40.00 price objective on shares of Ceva in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ceva currently has an average rating of “Moderate Buy” and an average target price of $41.80.

Ceva Stock Down 2.7%

Shares of NASDAQ:CEVA traded down $1.27 during trading on Friday, reaching $45.54. The stock had a trading volume of 959,264 shares, compared to its average volume of 713,783. The stock has a fifty day simple moving average of $42.23 and a two-hundred day simple moving average of $28.73. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -101.20 and a beta of 1.96. Ceva, Inc. has a 52 week low of $17.02 and a 52 week high of $51.60.

Ceva (NASDAQ:CEVA) last announced its earnings results on Monday, May 11th. The semiconductor company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The firm 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 firm posted $0.06 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Ceva, Inc. will post -0.21 EPS for the current year.

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.