Northern Trust Corp decreased its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,254 shares of the semiconductor company’s stock after selling 6,456 shares during the period. Northern Trust Corp’s holdings in CEVA were worth $6,609,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC increased its position in shares of CEVA by 43.6% during the fourth quarter. Penserra Capital Management LLC now owns 1,761 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 535 shares in the last quarter. Van ECK Associates Corp increased its position in shares of CEVA by 18.7% during the fourth quarter. Van ECK Associates Corp now owns 8,100 shares of the semiconductor company’s stock worth $179,000 after acquiring an additional 1,277 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of CEVA during the fourth quarter worth $184,000. Citigroup Inc. increased its position in shares of CEVA by 250.2% during the fourth quarter. Citigroup Inc. now owns 13,556 shares of the semiconductor company’s stock worth $299,000 after acquiring an additional 9,685 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in shares of CEVA by 3.4% during the fourth quarter. Texas Permanent School Fund now owns 14,332 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 470 shares in the last quarter. 88.58% of the stock is owned by institutional investors.
Shares of CEVA stock opened at $27.78 on Wednesday. CEVA, Inc. has a twelve month low of $20.40 and a twelve month high of $37.65. The stock has a market capitalization of $622.05 million, a price-to-earnings ratio of 252.55 and a beta of 1.74.
CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. CEVA had a net margin of 0.74% and a return on equity of 1.00%. The business had revenue of $21.40 million during the quarter, compared to analysts’ expectations of $22.07 million. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s revenue was down .9% on a year-over-year basis. Equities analysts expect that CEVA, Inc. will post -0.08 earnings per share for the current fiscal year.
In other CEVA news, EVP Issachar Ohana sold 6,670 shares of CEVA stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.00, for a total value of $186,760.00. Following the completion of the sale, the executive vice president now owns 34,616 shares in the company, valued at approximately $969,248. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.
A number of research analysts recently weighed in on the stock. BidaskClub raised shares of CEVA from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Cowen decreased their target price on shares of CEVA from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, February 14th. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 target price (down previously from $41.00) on shares of CEVA in a research report on Wednesday, February 13th. ValuEngine downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Northland Securities cut shares of CEVA from an “outperform” rating to a “market perform” rating and set a $27.00 price target for the company. in a research note on Thursday, February 14th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $33.43.
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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.
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