CEVA, Inc. (CEVA) Shares Bought by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. increased its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 17.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 599,428 shares of the semiconductor company’s stock after acquiring an additional 90,690 shares during the period. Pictet Asset Management Ltd. owned approximately 2.73% of CEVA worth $25,656,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. boosted its position in shares of CEVA by 2.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,831 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 62 shares during the period. Victory Capital Management Inc. boosted its position in shares of CEVA by 35.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,249 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 846 shares during the period. US Bancorp DE boosted its position in shares of CEVA by 9.2% in the 2nd quarter. US Bancorp DE now owns 3,727 shares of the semiconductor company’s stock valued at $169,000 after purchasing an additional 313 shares during the period. State of Alaska Department of Revenue boosted its position in shares of CEVA by 80.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,237 shares of the semiconductor company’s stock valued at $192,000 after purchasing an additional 1,887 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of CEVA in the 2nd quarter valued at $211,000. 86.91% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research firms recently weighed in on CEVA. Roth Capital increased their price target on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Canaccord Genuity reiterated a “buy” rating and issued a $53.00 price target (down previously from $54.00) on shares of CEVA in a research report on Tuesday, October 3rd. BidaskClub lowered CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. CEVA currently has a consensus rating of “Buy” and an average price target of $46.71.
Shares of CEVA, Inc. (NASDAQ:CEVA) opened at $45.10 on Friday. The stock has a market capitalization of $991.68 million, a P/E ratio of 50.17, a PEG ratio of 2.94 and a beta of 0.77.
CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.08. CEVA had a return on equity of 9.02% and a net margin of 21.89%. The firm had revenue of $24.00 million during the quarter, compared to analyst estimates of $21.56 million. During the same period last year, the company posted $0.24 EPS. The business’s quarterly revenue was up 34.1% compared to the same quarter last year. analysts anticipate that CEVA, Inc. will post 0.77 earnings per share for the current fiscal year.
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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