Louisiana State Employees Retirement System Increases Position in CEVA, Inc. (CEVA)
Louisiana State Employees Retirement System boosted its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 8,700 shares of the semiconductor company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in CEVA were worth $395,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in CEVA by 149,831.4% in the first quarter. BlackRock Inc. now owns 2,532,342 shares of the semiconductor company’s stock worth $89,898,000 after buying an additional 2,530,653 shares in the last quarter. Pictet Asset Management Ltd. bought a new position in CEVA during the first quarter worth $15,238,000. Teachers Advisors LLC raised its position in CEVA by 723.5% in the first quarter. Teachers Advisors LLC now owns 313,466 shares of the semiconductor company’s stock worth $11,128,000 after buying an additional 275,403 shares in the last quarter. Vanguard Group Inc. raised its position in CEVA by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,930,411 shares of the semiconductor company’s stock worth $68,530,000 after buying an additional 94,517 shares in the last quarter. Finally, State Street Corp raised its position in CEVA by 11.6% in the first quarter. State Street Corp now owns 573,784 shares of the semiconductor company’s stock worth $20,373,000 after buying an additional 59,831 shares in the last quarter. 90.16% of the stock is owned by hedge funds and other institutional investors.
CEVA, Inc. (CEVA) traded down 0.36% on Tuesday, hitting $41.45. The stock had a trading volume of 39,702 shares. CEVA, Inc. has a 1-year low of $28.15 and a 1-year high of $48.67. The company has a market cap of $910.41 million, a P/E ratio of 54.83 and a beta of 0.63. The stock has a 50 day moving average price of $45.28 and a 200 day moving average price of $39.90.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $20.57 million for the quarter, compared to the consensus estimate of $19.66 million. CEVA had a return on equity of 8.24% and a net margin of 20.52%. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. On average, equities research analysts expect that CEVA, Inc. will post $1.14 EPS for the current fiscal year.
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A number of research firms have recently weighed in on CEVA. BidaskClub lowered CEVA from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Roth Capital raised their target price on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a report on Monday, July 31st. Canaccord Genuity restated a “buy” rating and issued a $45.00 target price on shares of CEVA in a report on Tuesday, July 11th. Benchmark Co. raised their target price on CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. raised their target price on CEVA from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $44.71.
In other CEVA news, CEO Gideon Wertheizer sold 898 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $42.25, for a total transaction of $37,940.50. Following the sale, the chief executive officer now directly owns 81,783 shares in the company, valued at approximately $3,455,331.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sven Christer Nilsson sold 9,172 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $42.38, for a total value of $388,709.36. Following the sale, the director now owns 24,132 shares in the company, valued at $1,022,714.16. The disclosure for this sale can be found here. Insiders sold a total of 26,762 shares of company stock worth $1,139,525 in the last 90 days. 3.90% of the stock is currently owned by company insiders.
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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