Cortina Asset Management LLC Increases Position in CEVA, Inc. (CEVA)
Cortina Asset Management LLC boosted its holdings in shares of CEVA, Inc. (NASDAQ:CEVA) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,326 shares of the semiconductor company’s stock after acquiring an additional 27,555 shares during the period. Cortina Asset Management LLC owned 0.63% of CEVA worth $5,878,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CEVA. Pinebridge Investments L.P. grew its stake in CEVA by 2.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,831 shares of the semiconductor company’s stock valued at $128,000 after acquiring an additional 62 shares in the last quarter. US Bancorp DE grew its stake in CEVA by 9.2% during the 2nd quarter. US Bancorp DE now owns 3,727 shares of the semiconductor company’s stock valued at $169,000 after acquiring an additional 313 shares in the last quarter. Victory Capital Management Inc. grew its stake in CEVA by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,821 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 572 shares in the last quarter. State of Alaska Department of Revenue grew its stake in CEVA by 80.3% during 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 acquiring an additional 1,887 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in CEVA during the 2nd quarter valued at about $211,000. 87.81% of the stock is owned by institutional investors.
In related news, Director Eliyahu Ayalon sold 9,215 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Yaniv Arieli sold 8,614 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $49.25, for a total transaction of $424,239.50. Following the transaction, the chief financial officer now directly owns 40,372 shares of the company’s stock, valued at approximately $1,988,321. The disclosure for this sale can be found here. In the last three months, insiders sold 65,717 shares of company stock valued at $3,159,483. Corporate insiders own 3.90% of the company’s stock.
CEVA, Inc. (CEVA) traded up $0.30 during trading on Thursday, hitting $49.75. 161,300 shares of the stock traded hands, compared to its average volume of 164,787. CEVA, Inc. has a twelve month low of $29.00 and a twelve month high of $50.30. The stock has a market cap of $1,086.66, a PE ratio of 54.94, a price-to-earnings-growth ratio of 3.21 and a beta of 0.77.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. CEVA had a net margin of 21.89% and a return on equity of 9.02%. The business had revenue of $24.00 million during the quarter, compared to analysts’ expectations of $21.56 million. During the same quarter in the prior year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 34.1% on a year-over-year basis. analysts forecast that CEVA, Inc. will post 0.77 earnings per share for the current year.
Several brokerages recently issued reports on CEVA. Roth Capital upped their price objective on shares of CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $53.00 price objective (down previously from $54.00) on shares of CEVA in a research note on Tuesday, October 3rd. BidaskClub cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $46.71.
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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