Tyers Asset Management LLC grew its stake in CEVA, Inc. (NASDAQ:CEVA) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,552 shares of the semiconductor company’s stock after buying an additional 336 shares during the quarter. Tyers Asset Management LLC’s holdings in CEVA were worth $87,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of CEVA by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 724,329 shares of the semiconductor company’s stock worth $16,001,000 after purchasing an additional 13,401 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of CEVA by 12.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 337,199 shares of the semiconductor company’s stock worth $8,175,000 after purchasing an additional 37,415 shares in the last quarter. Northern Trust Corp lifted its position in shares of CEVA by 0.8% in the second quarter. Northern Trust Corp now owns 300,786 shares of the semiconductor company’s stock worth $7,324,000 after purchasing an additional 2,439 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of CEVA by 78.4% in the second quarter. Renaissance Technologies LLC now owns 247,600 shares of the semiconductor company’s stock worth $6,029,000 after purchasing an additional 108,800 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its position in shares of CEVA by 5.3% in the second quarter. Congress Asset Management Co. MA now owns 196,076 shares of the semiconductor company’s stock worth $4,774,000 after purchasing an additional 9,807 shares in the last quarter. Institutional investors own 83.57% of the company’s stock.
CEVA has been the topic of a number of research reports. Cowen reissued an “outperform” rating and issued a $35.00 price objective (up previously from $29.00) on shares of CEVA in a research report on Friday, August 9th. ValuEngine raised shares of CEVA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Canaccord Genuity upped their price target on shares of CEVA from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Northland Securities reaffirmed a “hold” rating and set a $28.00 price target on shares of CEVA in a research report on Thursday, August 8th. Finally, Barclays set a $27.00 price target on shares of CEVA and gave the stock a “hold” rating in a research report on Friday, August 9th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. CEVA currently has an average rating of “Hold” and an average price target of $32.20.
In other news, Director Maria Marced sold 2,064 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $32.07, for a total value of $66,192.48. Following the transaction, the director now directly owns 7,121 shares of the company’s stock, valued at $228,370.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.
NASDAQ CEVA traded up $0.11 on Friday, hitting $32.82. 1,997 shares of the stock were exchanged, compared to its average volume of 100,740. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.46 and a quick ratio of 8.46. The business’s fifty day moving average is $30.23 and its 200 day moving average is $26.58. CEVA, Inc. has a 52 week low of $20.40 and a 52 week high of $33.16. The company has a market capitalization of $718.47 million, a PE ratio of 298.36 and a beta of 1.59.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.14. CEVA had a net margin of 1.33% and a return on equity of 1.12%. The firm had revenue of $18.40 million for the quarter, compared to analyst estimates of $17.41 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that CEVA, Inc. will post -0.08 EPS for the current fiscal year.
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 signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.
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