Granite Point Capital Management L.P. increased its holdings in CEVA, Inc. (NASDAQ:CEVA) by 400.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the semiconductor company’s stock after purchasing an additional 20,000 shares during the period. Granite Point Capital Management L.P. owned approximately 0.11% of CEVA worth $1,070,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CEVA. Pinebridge Investments L.P. boosted its holdings in CEVA by 2.2% in the second quarter. Pinebridge Investments L.P. now owns 2,831 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 62 shares in the last quarter. US Bancorp DE boosted its holdings in CEVA by 9.2% in the second quarter. US Bancorp DE now owns 3,727 shares of the semiconductor company’s stock worth $169,000 after purchasing an additional 313 shares in the last quarter. Victory Capital Management Inc. lifted its position in CEVA by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,821 shares of the semiconductor company’s stock worth $174,000 after acquiring an additional 572 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in CEVA during the 2nd quarter worth $211,000. Finally, Icon Advisers Inc. Co. acquired a new position in CEVA during the 3rd quarter worth $291,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.
A number of research analysts have weighed in on CEVA shares. BidaskClub lowered shares of CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Canaccord Genuity boosted their target price on shares of CEVA from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research lowered shares of CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.71.
CEVA, Inc. (CEVA) opened at $45.52 on Wednesday. The firm has a market cap of $997.66, a price-to-earnings ratio of 50.44, a price-to-earnings-growth ratio of 2.95 and a beta of 0.74. CEVA, Inc. has a 52-week low of $30.20 and a 52-week high of $51.80.
CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.08. The firm had revenue of $24.00 million during the quarter, compared to analyst estimates of $21.56 million. CEVA had a net margin of 21.89% and a return on equity of 9.02%. The business’s revenue was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. equities research analysts anticipate that CEVA, Inc. will post 0.77 earnings per share for the current year.
In other news, EVP Issachar Ohana sold 1,965 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $50.10, for a total transaction of $98,446.50. Following the completion of the transaction, the executive vice president now owns 28,289 shares of the company’s stock, valued at $1,417,278.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gideon Wertheizer sold 20,603 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $49.28, for a total transaction of $1,015,315.84. Following the transaction, the chief executive officer now directly owns 82,497 shares of the company’s stock, valued at approximately $4,065,452.16. The disclosure for this sale can be found here. Insiders have sold 67,682 shares of company stock valued at $3,257,929 in the last ninety days. 3.90% of the stock is 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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