KBC Group NV cut its position in CEVA, Inc. (NASDAQ:CEVA) by 52.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,719 shares of the semiconductor company’s stock after selling 10,687 shares during the quarter. KBC Group NV’s holdings in CEVA were worth $442,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc raised its position in CEVA by 10.7% in the second quarter. Legal & General Group Plc now owns 38,788 shares of the semiconductor company’s stock valued at $1,764,000 after purchasing an additional 3,764 shares during the last quarter. Rhumbline Advisers raised its position in CEVA by 4.2% in the second quarter. Rhumbline Advisers now owns 41,638 shares of the semiconductor company’s stock valued at $1,892,000 after purchasing an additional 1,685 shares during the last quarter. Rice Hall James & Associates LLC raised its position in CEVA by 20.4% in the second quarter. Rice Hall James & Associates LLC now owns 625,877 shares of the semiconductor company’s stock valued at $28,446,000 after purchasing an additional 106,191 shares during the last quarter. First Trust Advisors LP raised its position in CEVA by 5.3% in the second quarter. First Trust Advisors LP now owns 6,886 shares of the semiconductor company’s stock valued at $313,000 after purchasing an additional 347 shares during the last quarter. Finally, Arizona State Retirement System raised its position in CEVA by 0.9% in the second quarter. Arizona State Retirement System now owns 11,186 shares of the semiconductor company’s stock valued at $508,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.29% of the company’s stock.
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Several research firms have commented on CEVA. Roth Capital increased their target price on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. increased their target price on CEVA from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. BidaskClub downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Benchmark Co. increased their target price on CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $45.00 target price on shares of CEVA in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $44.71.
CEVA, Inc. (CEVA) opened at 39.80 on Friday. The company has a market capitalization of $874.17 million, a P/E ratio of 52.65 and a beta of 0.66. The stock’s 50 day moving average price is $42.85 and its 200-day moving average price is $40.59. CEVA, Inc. has a 12 month low of $28.15 and a 12 month high of $48.67.
CEVA (NASDAQ:CEVA) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $20.57 million during the quarter, compared to analysts’ expectations of $19.66 million. CEVA had a return on equity of 8.24% and a net margin of 20.52%. CEVA’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 EPS. On average, equities research analysts predict that CEVA, Inc. will post $1.14 EPS for the current fiscal year.
In related news, Director Peter Mcmanamon sold 1,497 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $45.00, for a total transaction of $67,365.00. Following the completion of the sale, the director now directly owns 264,054 shares in the company, valued at approximately $11,882,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.
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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