Bank of New York Mellon Corp increased its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 2.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 467,686 shares of the semiconductor company’s stock after buying an additional 12,657 shares during the quarter. Bank of New York Mellon Corp’s holdings in CEVA were worth $14,123,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CEVA. Piedmont Investment Advisors LLC purchased a new stake in shares of CEVA during the second quarter worth approximately $156,000. SG Americas Securities LLC purchased a new stake in shares of CEVA during the second quarter worth approximately $192,000. GSA Capital Partners LLP purchased a new stake in shares of CEVA during the second quarter worth approximately $221,000. BlueMountain Capital Management LLC increased its stake in shares of CEVA by 93.6% during the second quarter. BlueMountain Capital Management LLC now owns 8,689 shares of the semiconductor company’s stock worth $262,000 after buying an additional 4,201 shares during the period. Finally, First Republic Investment Management Inc. increased its stake in shares of CEVA by 28.4% during the second quarter. First Republic Investment Management Inc. now owns 10,954 shares of the semiconductor company’s stock worth $331,000 after buying an additional 2,423 shares during the period. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Several brokerages have commented on CEVA. BidaskClub lowered shares of CEVA from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Zacks Investment Research lowered shares of CEVA from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. ValuEngine upgraded shares of CEVA from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Finally, Canaccord Genuity increased their price target on shares of CEVA from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. CEVA has a consensus rating of “Buy” and an average price target of $37.29.

Shares of CEVA stock opened at $25.12 on Friday. The company has a market capitalization of $549.31 million, a price-to-earnings ratio of 31.26, a P/E/G ratio of 13.44 and a beta of 1.36. CEVA, Inc. has a 52 week low of $23.01 and a 52 week high of $49.75.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Thursday, November 8th. The semiconductor company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $21.40 million for the quarter, compared to analyst estimates of $21.37 million. CEVA had a net margin of 1.84% and a return on equity of 1.08%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, equities research analysts anticipate that CEVA, Inc. will post 0.09 EPS for the current fiscal year.

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About CEVA

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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Institutional Ownership by Quarter for CEVA (NASDAQ:CEVA)

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