Campbell Newman Asset Management Inc. Grows Position in CEVA, Inc. (CEVA)
Campbell Newman Asset Management Inc. boosted its position in CEVA, Inc. (NASDAQ:CEVA) by 2.5% in the 1st quarter, HoldingsChannel reports. The firm owned 21,798 shares of the semiconductor company’s stock after buying an additional 522 shares during the period. Campbell Newman Asset Management Inc.’s holdings in CEVA were worth $588,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CEVA. Penserra Capital Management LLC raised its stake in shares of CEVA by 43.6% during the 4th quarter. Penserra Capital Management LLC now owns 1,761 shares of the semiconductor company’s stock worth $38,000 after buying an additional 535 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in CEVA during the 4th quarter valued at about $138,000. Metropolitan Life Insurance Co. NY raised its position in CEVA by 371.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,928 shares of the semiconductor company’s stock worth $153,000 after acquiring an additional 5,460 shares during the last quarter. Van ECK Associates Corp raised its position in CEVA by 18.7% during the fourth quarter. Van ECK Associates Corp now owns 8,100 shares of the semiconductor company’s stock worth $179,000 after acquiring an additional 1,277 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in CEVA during the fourth quarter worth about $184,000. 88.58% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Issachar Ohana sold 6,670 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $28.00, for a total value of $186,760.00. Following the completion of the transaction, the executive vice president now directly owns 34,616 shares in the company, valued at $969,248. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.00% of the company’s stock.
CEVA stock traded down $0.97 during trading on Tuesday, hitting $27.90. The company had a trading volume of 166,190 shares, compared to its average volume of 133,356. The company has a market capitalization of $636.87 million, a P/E ratio of 253.64 and a beta of 1.74. CEVA, Inc. has a fifty-two week low of $20.40 and a fifty-two week high of $37.65.
CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, February 13th. The semiconductor company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.08. CEVA had a net margin of 0.74% and a return on equity of 1.00%. The firm had revenue of $21.40 million for the quarter, compared to analysts’ expectations of $22.07 million. During the same quarter last year, the company earned $0.25 EPS. CEVA’s quarterly revenue was down .9% on a year-over-year basis. On average, sell-side analysts expect that CEVA, Inc. will post -0.08 EPS for the current fiscal year.
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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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