Sheets Smith Wealth Management Decreases Stake in CEVA, Inc. (CEVA)

Sheets Smith Wealth Management lowered its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 4.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 18,959 shares of the semiconductor company’s stock after selling 781 shares during the period. Sheets Smith Wealth Management owned 0.09% of CEVA worth $862,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can boosted its stake in CEVA by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 28,154 shares of the semiconductor company’s stock valued at $998,000 after buying an additional 1,094 shares during the last quarter. Wells Fargo & Company MN boosted its stake in CEVA by 3.4% in the first quarter. Wells Fargo & Company MN now owns 20,052 shares of the semiconductor company’s stock valued at $711,000 after buying an additional 668 shares during the last quarter. Sapphire Star Partners LP boosted its stake in shares of CEVA by 9.0% in the first quarter. Sapphire Star Partners LP now owns 6,756 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 555 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of CEVA by 102.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 83,046 shares of the semiconductor company’s stock valued at $2,948,000 after buying an additional 41,928 shares in the last quarter. Finally, Navellier & Associates Inc boosted its stake in shares of CEVA by 9.4% in the first quarter. Navellier & Associates Inc now owns 6,756 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Shares of CEVA, Inc. (CEVA) opened at 43.20 on Wednesday. CEVA, Inc. has a 52 week low of $28.15 and a 52 week high of $48.67. The stock has a market capitalization of $931.09 million, a price-to-earnings ratio of 61.02 and a beta of 0.63. The stock’s 50 day moving average is $45.97 and its 200-day moving average is $39.49.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $20.57 million during 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%. CEVA’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, analysts anticipate that CEVA, Inc. will post $1.14 earnings per share for the current fiscal year.

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Several equities research analysts recently weighed in on CEVA shares. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $37.00 price target on shares of CEVA in a research report on Friday, April 21st. Canaccord Genuity boosted their price target on shares of CEVA from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Benchmark Co. boosted their price target on shares of CEVA from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. BidaskClub lowered shares of CEVA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Roth Capital lifted their price objective on shares of CEVA from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. CEVA presently has a consensus rating of “Buy” and an average price target of $44.71.

In other CEVA news, Director Peter Mcmanamon sold 1,497 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $45.00, for a total transaction of $67,365.00. Following the transaction, the director now owns 264,054 shares of the company’s stock, valued at approximately $11,882,430. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gideon Wertheizer sold 30,332 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 85,388 shares in the company, valued at approximately $3,628,990. The disclosure for this sale can be found here. Insiders sold 144,858 shares of company stock valued at $6,189,829 in the last three months. 3.90% of the stock is currently owned by company 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).

Institutional Ownership by Quarter for CEVA (NASDAQ:CEVA)

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