KBC Group NV cut its holdings in shares of CEVA, Inc. (NASDAQ:CEVA) by 52.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & 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.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of CEVA by 149,831.4% in the first quarter. BlackRock Inc. now owns 2,532,342 shares of the semiconductor company’s stock valued at $89,898,000 after purchasing an additional 2,530,653 shares in the last quarter. Teachers Advisors LLC grew 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 valued at $11,128,000 after acquiring an additional 275,403 shares during the period. Congress Asset Management Co. MA grew its position in CEVA by 518.4% in the second quarter. Congress Asset Management Co. MA now owns 128,648 shares of the semiconductor company’s stock valued at $5,847,000 after acquiring an additional 107,846 shares during the period. Rice Hall James & Associates LLC grew 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 acquiring an additional 106,191 shares during the period. Finally, Vanguard Group Inc. grew 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 valued at $68,530,000 after acquiring an additional 94,517 shares during the period. Institutional investors own 86.72% of the company’s stock.
CEVA, Inc. (NASDAQ:CEVA) opened at 42.05 on Friday. CEVA, Inc. has a 52 week low of $28.15 and a 52 week high of $48.67. The stock’s 50 day moving average price is $41.79 and its 200 day moving average price is $41.05. The firm has a market cap of $923.59 million, a price-to-earnings ratio of 55.62 and a beta of 0.66.
CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. CEVA had a return on equity of 8.24% and a net margin of 20.52%. The business had revenue of $20.57 million for the quarter, compared to analysts’ expectations of $19.66 million. During the same period in the previous year, the firm posted $0.21 EPS. The business’s revenue was up 20.3% on a year-over-year basis. On average, equities research analysts predict that CEVA, Inc. will post $1.14 EPS for the current year.
A number of analysts have weighed in on CEVA shares. Roth Capital upped their price target on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 31st. BidaskClub cut CEVA from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Canaccord Genuity restated a “buy” rating and set a $45.00 target price on shares of CEVA in a report on Tuesday, July 11th. Finally, Benchmark Co. increased their target price on CEVA from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 5th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.71.
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In other news, Director Peter Mcmanamon sold 1,497 shares of CEVA stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $45.00, for a total transaction of $67,365.00. Following the completion of the transaction, the director now directly owns 264,054 shares in the company, valued at $11,882,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is currently owned by company insiders.
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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