Principal Financial Group Inc. raised its stake in CEVA, Inc. (NASDAQ:CEVA) by 3.6% during the first quarter, Holdings Channel reports. The firm owned 165,386 shares of the semiconductor company’s stock after buying an additional 5,672 shares during the period. Principal Financial Group Inc.’s holdings in CEVA were worth $5,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Spark Investment Management LLC purchased a new position in CEVA during the first quarter worth approximately $553,000. Neuberger Berman Group LLC increased its position in CEVA by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 476,553 shares of the semiconductor company’s stock worth $16,918,000 after buying an additional 5,137 shares during the period. Arizona State Retirement System increased its position in CEVA by 1.8% in the first quarter. Arizona State Retirement System now owns 11,086 shares of the semiconductor company’s stock worth $394,000 after buying an additional 200 shares during the period. Victory Capital Management Inc. increased its position in CEVA by 35.2% in the first quarter. Victory Capital Management Inc. now owns 3,249 shares of the semiconductor company’s stock worth $115,000 after buying an additional 846 shares during the period. Finally, Stifel Financial Corp increased its position in CEVA by 3.5% in the first quarter. Stifel Financial Corp now owns 12,749 shares of the semiconductor company’s stock worth $453,000 after buying an additional 427 shares during the period. Hedge funds and other institutional investors own 88.53% of the company’s stock.

Shares of CEVA, Inc. (NASDAQ:CEVA) opened at 46.45 on Friday. The stock has a 50 day moving average price of $44.50 and a 200-day moving average price of $37.37. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 65.61 and a beta of 0.63. CEVA, Inc. has a 1-year low of $25.48 and a 1-year high of $48.67.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $20.98 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, equities research analysts expect that CEVA, Inc. will post $1.13 earnings per share for the current fiscal year.

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A number of equities analysts have recently commented on CEVA shares. Wunderlich restated a “buy” rating and issued a $40.00 price objective on shares of CEVA in a report on Monday, March 27th. Zacks Investment Research upgraded CEVA from a “sell” rating to a “hold” rating in a report on Tuesday, April 4th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $37.00 price objective on shares of CEVA in a report on Friday, April 21st. Canaccord Genuity raised their price objective on CEVA from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Finally, Benchmark Co. raised their price objective on CEVA from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 5th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. CEVA has an average rating of “Buy” and a consensus price target of $41.57.

In other CEVA 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 value of $1,289,110.00. Following the completion of the sale, 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 is available through this link. Also, CFO Yaniv Arieli sold 59,764 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $42.91, for a total value of $2,564,473.24. Following the completion of the sale, the chief financial officer now directly owns 52,249 shares of the company’s stock, valued at approximately $2,242,004.59. The disclosure for this sale can be found here. Insiders sold 150,219 shares of company stock valued at $6,414,133 in the last ninety days. Insiders own 3.90% of the company’s stock.

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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Institutional Ownership by Quarter for CEVA (NASDAQ:CEVA)

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