Texas Permanent School Fund decreased its position in CEVA, Inc. (NASDAQ:CEVA) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,371 shares of the semiconductor company’s stock after selling 114 shares during the period. Texas Permanent School Fund’s holdings in CEVA were worth $546,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of CEVA during the fourth quarter worth about $5,953,000. Comerica Bank increased its stake in shares of CEVA by 6.9% in the fourth quarter. Comerica Bank now owns 22,473 shares of the semiconductor company’s stock worth $775,000 after buying an additional 1,448 shares during the last quarter. State Street Corp increased its stake in shares of CEVA by 8.5% in the fourth quarter. State Street Corp now owns 513,953 shares of the semiconductor company’s stock worth $17,245,000 after buying an additional 40,377 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of CEVA by 68.6% in the fourth quarter. Federated Investors Inc. PA now owns 23,878 shares of the semiconductor company’s stock worth $801,000 after buying an additional 9,715 shares during the last quarter. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of CEVA during the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Institutional Ownership by Quarter for CEVA (NASDAQ:CEVA)

CEVA, Inc. (CEVA) opened at 45.45 on Friday. CEVA, Inc. has a 12-month low of $24.55 and a 12-month high of $48.67. The stock has a 50 day moving average of $42.69 and a 200-day moving average of $36.37. The company has a market cap of $979.58 million, a PE ratio of 64.19 and a beta of 0.62.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.09. CEVA had a return on equity of 7.99% and a net margin of 19.90%. The company had revenue of $21.30 million during the quarter, compared to analyst estimates of $20.98 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. CEVA’s revenue was up 29.1% on a year-over-year basis. On average, equities research analysts anticipate that CEVA, Inc. will post $1.13 earnings per share for the current fiscal year.

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A number of equities research analysts have issued reports on CEVA shares. Wunderlich reiterated a “buy” rating and set a $40.00 price objective on shares of CEVA in a research note on Monday, March 27th. Zacks Investment Research upgraded shares of CEVA from a “sell” rating to a “hold” rating in a research note on Tuesday, April 4th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $37.00 price objective on shares of CEVA in a research note on Friday, April 21st. Canaccord Genuity increased their price objective on shares of CEVA from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Finally, Benchmark Co. increased their price objective on shares of CEVA from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $41.14.

In other news, CEO Gideon Wertheizer sold 30,332 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $42.50, for a total transaction of $1,289,110.00. Following the completion of the transaction, the chief executive officer now owns 85,388 shares of the company’s stock, valued at $3,628,990. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Issachar Ohana sold 5,361 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $41.84, for a total value of $224,304.24. Following the transaction, the executive vice president now directly owns 35,822 shares of the company’s stock, valued at approximately $1,498,792.48. The disclosure for this sale can be found here. Insiders have sold 148,722 shares of company stock valued at $6,346,768 in the last three months. 3.90% of the stock is owned by insiders.

About CEVA

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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