Neuberger Berman Group LLC Trims Stock Holdings in Ceva, Inc. $CEVA

Neuberger Berman Group LLC lessened its holdings in shares of Ceva, Inc. (NASDAQ:CEVA) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 698,719 shares of the semiconductor company’s stock after selling 43,195 shares during the quarter. Neuberger Berman Group LLC’s holdings in Ceva were worth $15,377,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CEVA. Herald Investment Management Ltd increased its stake in shares of Ceva by 23.1% in the second quarter. Herald Investment Management Ltd now owns 400,000 shares of the semiconductor company’s stock worth $8,780,000 after buying an additional 75,000 shares during the last quarter. Silverberg Bernstein Capital Management LLC boosted its stake in Ceva by 35.6% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 121,023 shares of the semiconductor company’s stock valued at $2,660,000 after acquiring an additional 31,769 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Ceva by 24.0% during the 2nd quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock worth $14,346,000 after acquiring an additional 126,267 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Ceva by 52.2% in the 1st quarter. Voya Investment Management LLC now owns 59,712 shares of the semiconductor company’s stock worth $1,529,000 after purchasing an additional 20,469 shares during the last quarter. Finally, Senvest Management LLC increased its position in shares of Ceva by 8.4% in the 2nd quarter. Senvest Management LLC now owns 2,151,632 shares of the semiconductor company’s stock worth $47,293,000 after purchasing an additional 166,425 shares during the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

Ceva Stock Down 7.0%

Shares of CEVA stock opened at $21.83 on Friday. The company has a market cap of $524.36 million, a P/E ratio of -47.46 and a beta of 1.46. The business has a 50 day moving average of $25.03 and a two-hundred day moving average of $23.55. Ceva, Inc. has a 52 week low of $18.23 and a 52 week high of $38.94.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings results on Monday, November 10th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $28.38 million for the quarter, compared to analysts’ expectations of $28.04 million. Ceva had a negative return on equity of 3.54% and a negative net margin of 10.49%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. Analysts expect that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on CEVA shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Ceva in a research report on Tuesday, November 11th. Loop Capital initiated coverage on Ceva in a research note on Monday, December 1st. They set a “buy” rating and a $28.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Tuesday, October 14th. Finally, Barclays boosted their price target on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Ceva currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

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.