Schwab Charles Investment Management Inc. increased its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,176 shares of the semiconductor company’s stock after purchasing an additional 9,511 shares during the period. Schwab Charles Investment Management Inc.’s holdings in CEVA were worth $4,278,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in CEVA by 37.1% in the first quarter. Victory Capital Management Inc. now owns 5,746 shares of the semiconductor company’s stock valued at $208,000 after acquiring an additional 1,555 shares during the period. Teacher Retirement System of Texas bought a new stake in CEVA in the fourth quarter valued at $352,000. MetLife Investment Advisors LLC bought a new stake in CEVA in the fourth quarter valued at $470,000. Pinebridge Investments L.P. grew its position in CEVA by 324.0% in the fourth quarter. Pinebridge Investments L.P. now owns 11,553 shares of the semiconductor company’s stock valued at $533,000 after acquiring an additional 8,828 shares during the period. Finally, Sapphire Star Partners LP bought a new stake in CEVA in the fourth quarter valued at $603,000. Institutional investors and hedge funds own 86.43% of the company’s stock.
Shares of CEVA stock opened at $31.10 on Wednesday. The firm has a market cap of $686.63 million, a PE ratio of 59.42, a price-to-earnings-growth ratio of 4.83 and a beta of 0.89. CEVA, Inc. has a 52 week low of $27.35 and a 52 week high of $51.80.
CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, May 9th. The semiconductor company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $17.57 million for the quarter, compared to the consensus estimate of $18.83 million. CEVA had a return on equity of 4.97% and a net margin of 12.82%. CEVA’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. research analysts expect that CEVA, Inc. will post 0.32 EPS for the current fiscal year.
A number of analysts have weighed in on the company. BidaskClub upgraded CEVA from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. Barclays set a $40.00 price target on CEVA and gave the company a “buy” rating in a research report on Thursday, May 10th. ValuEngine upgraded CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, May 15th. Cowen assumed coverage on CEVA in a research report on Thursday, May 17th. They issued an “outperform” rating and a $43.00 price target on the stock. Finally, Zacks Investment Research cut CEVA from a “hold” rating to a “sell” rating in a research report on Tuesday, May 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $43.14.
In other news, EVP Issachar Ohana sold 1,500 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $34.00, for a total transaction of $51,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of Things (IoT) markets worldwide. The company licenses a family of programmable digital signal processor (DSP) cores and application-specific platforms for imaging, computer vision, deep learning, sound, voice, and audio processing; and long range wireless technologies for LTE/5G baseband processing in IoT, handsets, and infrastructure, as well as short range wireless platforms for Wi-Fi and Bluetooth.
Want to see what other hedge funds are holding CEVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CEVA, Inc. (NASDAQ:CEVA).
Receive News & Ratings for CEVA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEVA and related companies with MarketBeat.com's FREE daily email newsletter.