Congress Asset Management Co. MA raised its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 36.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,802 shares of the semiconductor company’s stock after buying an additional 5,578 shares during the period. Congress Asset Management Co. MA owned about 0.10% of CEVA worth $738,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in CEVA. Cadence Capital Management LLC increased its position in shares of CEVA by 37.7% in the fourth quarter. Cadence Capital Management LLC now owns 40,092 shares of the semiconductor company’s stock worth $1,345,000 after buying an additional 10,981 shares in the last quarter. Comerica Bank boosted its stake in CEVA by 6.9% in the fourth quarter. Comerica Bank now owns 22,473 shares of the semiconductor company’s stock valued at $775,000 after buying an additional 1,448 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in CEVA by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 88,857 shares of the semiconductor company’s stock valued at $3,116,000 after buying an additional 372 shares during the last quarter. Franklin Resources Inc. purchased a new stake in CEVA during the fourth quarter valued at $342,000. Finally, Skylands Capital LLC purchased a new stake in CEVA during the first quarter valued at $1,727,000. Institutional investors own 88.78% of the company’s stock.
Shares of CEVA, Inc. (NASDAQ:CEVA) traded up 0.35% during mid-day trading on Friday, hitting $42.75. The stock had a trading volume of 139,133 shares. The company’s 50 day moving average is $37.74 and its 200-day moving average is $34.52. The stock has a market cap of $921.39 million, a P/E ratio of 60.38 and a beta of 0.82. CEVA, Inc. has a 52-week low of $24.55 and a 52-week high of $43.97.
CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.09. CEVA had a net margin of 18.03% and a return on equity of 7.14%. The firm had revenue of $21.30 million for the quarter, compared to the consensus estimate of $20.98 million. During the same period last year, the firm earned $0.17 earnings per share. The company’s quarterly revenue was up 29.1% on a year-over-year basis. On average, equities research analysts anticipate that CEVA, Inc. will post $1.13 earnings per share for the current fiscal year.
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Several research firms have weighed in on CEVA. Oppenheimer Holdings Inc. lifted their price objective on CEVA from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday. Canaccord Genuity lifted their price objective on CEVA from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Zacks Investment Research raised CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Finally, Wunderlich reaffirmed a “buy” rating and set a $40.00 price objective on shares of CEVA in a research report on Monday, March 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.14.
In other news, CFO Yaniv Arieli sold 59,764 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $42.91, for a total transaction of $2,564,473.24. Following the transaction, the chief financial officer now directly owns 52,249 shares in the company, valued at $2,242,004.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Issachar Ohana sold 5,361 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $41.84, for a total transaction of $224,304.24. Following the transaction, the executive vice president now owns 35,822 shares in the company, valued at $1,498,792.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,457 shares of company stock worth $5,274,607. Insiders own 4.60% of the company’s stock.
CEVA Company Profile
CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).
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