Allianz Asset Management GmbH Reduces Holdings in CEVA, Inc. (CEVA)
Allianz Asset Management GmbH trimmed its holdings in shares of CEVA, Inc. (NASDAQ:CEVA) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,865 shares of the semiconductor company’s stock after selling 2,018 shares during the period. Allianz Asset Management GmbH owned 0.54% of CEVA worth $5,087,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CEVA. Pinebridge Investments L.P. grew its position in shares of CEVA by 2.2% during the second quarter. Pinebridge Investments L.P. now owns 2,831 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 62 shares during the last quarter. US Bancorp DE grew its position in shares of CEVA by 9.2% during the second quarter. US Bancorp DE now owns 3,727 shares of the semiconductor company’s stock worth $169,000 after acquiring an additional 313 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of CEVA by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,821 shares of the semiconductor company’s stock worth $174,000 after acquiring an additional 572 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of CEVA during the second quarter worth about $211,000. Finally, Granite Point Capital Management L.P. bought a new position in shares of CEVA during the second quarter worth about $227,000. Institutional investors and hedge funds own 86.46% of the company’s stock.
CEVA has been the subject of several recent research reports. Canaccord Genuity restated a “buy” rating and set a $53.00 price target (down previously from $54.00) on shares of CEVA in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of CEVA from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $46.71.
CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.08. The firm had revenue of $24.00 million during the quarter, compared to analyst estimates of $21.56 million. CEVA had a net margin of 21.89% and a return on equity of 9.02%. CEVA’s revenue was up 34.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. sell-side analysts forecast that CEVA, Inc. will post 0.77 earnings per share for the current fiscal year.
In related news, EVP Issachar Ohana sold 1,965 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $50.10, for a total value of $98,446.50. Following the completion of the transaction, the executive vice president now owns 28,289 shares in the company, valued at approximately $1,417,278.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eliyahu Ayalon sold 9,215 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $46.00, for a total transaction of $423,890.00. Following the completion of the transaction, the director now owns 11,586 shares of the company’s stock, valued at approximately $532,956. The disclosure for this sale can be found here. Insiders sold a total of 67,682 shares of company stock valued at $3,257,929 in the last quarter. 3.90% of the stock is currently owned by insiders.
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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