Public Sector Pension Investment Board Grows Position in CEVA, Inc. (NASDAQ:CEVA)

Public Sector Pension Investment Board lifted its stake in CEVA, Inc. (NASDAQ:CEVA) by 6.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,888 shares of the semiconductor company’s stock after buying an additional 2,994 shares during the quarter. Public Sector Pension Investment Board’s holdings in CEVA were worth $1,001,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CEVA. nVerses Capital LLC purchased a new position in shares of CEVA in the second quarter worth $50,000. State Board of Administration of Florida Retirement System purchased a new position in shares of CEVA in the first quarter worth $245,000. Congress Asset Management Co. MA purchased a new position in shares of CEVA in the fourth quarter worth $383,000. Quest Partners LLC purchased a new position in shares of CEVA in the second quarter worth $395,000. Finally, Tidal Investments LLC purchased a new position in shares of CEVA in the first quarter worth $423,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Roth Mkm raised shares of CEVA from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $25.00 in a research note on Thursday, August 8th. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer upped their price target on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

CEVA Stock Up 3.5 %

CEVA stock opened at $24.71 on Thursday. The company has a market cap of $585.38 million, a price-to-earnings ratio of -46.62 and a beta of 1.19. The firm’s fifty day moving average is $22.50 and its 200 day moving average is $21.14. CEVA, Inc. has a 52-week low of $16.02 and a 52-week high of $25.54.

CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. The firm had revenue of $28.44 million during the quarter, compared to analyst estimates of $24.47 million. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. On average, equities research analysts anticipate that CEVA, Inc. will post -0.31 earnings per share for the current fiscal year.

CEVA Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.