Tyers Asset Management LLC raised its stake in CEVA, Inc. (NASDAQ:CEVA) by 10.4% in the second quarter, Holdings Channel reports. The fund owned 3,552 shares of the semiconductor company’s stock after purchasing 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.
Several other hedge funds also recently bought and sold shares of the company. Comerica Bank lifted its holdings in shares of CEVA by 2.0% in the first quarter. Comerica Bank now owns 21,688 shares of the semiconductor company’s stock worth $618,000 after acquiring an additional 435 shares during the last quarter. Elkfork Partners LLC lifted its holdings in shares of CEVA by 10.4% in the second quarter. Elkfork Partners LLC now owns 4,884 shares of the semiconductor company’s stock worth $119,000 after acquiring an additional 462 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of CEVA by 3.8% in the first quarter. Texas Permanent School Fund now owns 14,871 shares of the semiconductor company’s stock worth $401,000 after acquiring an additional 539 shares during the last quarter. Swiss National Bank lifted its holdings in shares of CEVA by 2.0% in the second quarter. Swiss National Bank now owns 40,800 shares of the semiconductor company’s stock worth $993,000 after acquiring an additional 800 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in shares of CEVA by 70.4% in the first quarter. Penserra Capital Management LLC now owns 3,000 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,239 shares during the last quarter. 83.57% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on CEVA. Canaccord Genuity increased their target price on shares of CEVA from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Zacks Investment Research cut shares of CEVA from a “buy” rating to a “hold” rating in a report on Monday, August 19th. BidaskClub cut shares of CEVA from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. ValuEngine upgraded shares of CEVA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Cowen reiterated an “outperform” rating and issued a $35.00 price objective (up previously from $29.00) on shares of CEVA in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. CEVA currently has a consensus rating of “Hold” and an average price target of $32.20.
In related news, Director Maria Marced sold 2,064 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $32.07, for a total value of $66,192.48. Following the completion of the transaction, the director now owns 7,121 shares in the company, valued at approximately $228,370.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.80% of the stock is owned by company insiders.
NASDAQ CEVA traded up $0.11 during trading hours on Friday, reaching $32.82. The company’s stock had a trading volume of 1,997 shares, compared to its average volume of 100,740. The firm has a fifty day simple moving average of $30.23 and a 200-day simple moving average of $26.58. The stock has a market cap of $718.47 million, a P/E ratio of 298.36 and a beta of 1.59. CEVA, Inc. has a 52 week low of $20.40 and a 52 week high of $33.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.46 and a quick ratio of 8.46.
CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.14. The business had revenue of $18.40 million during the quarter, compared to analyst estimates of $17.41 million. CEVA had a net margin of 1.33% and a return on equity of 1.12%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS. On average, research analysts expect that CEVA, Inc. will post -0.08 earnings per share for the current 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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