State Board of Administration of Florida Retirement System Has $631,000 Stake in Ceva Inc. (CEVA)
State Board of Administration of Florida Retirement System lowered its stake in Ceva Inc. (NASDAQ:CEVA) by 3.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,238 shares of the company’s stock after selling 782 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Ceva worth $631,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CEVA. Rice Hall James & Associates LLC increased its stake in shares of Ceva by 1.3% in the second quarter. Rice Hall James & Associates LLC now owns 490,014 shares of the company’s stock worth $13,314,000 after buying an additional 6,338 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Ceva by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 394,674 shares of the company’s stock worth $10,724,000 after buying an additional 13,357 shares during the period. Granahan Investment Management Inc. MA increased its stake in shares of Ceva by 44.5% in the first quarter. Granahan Investment Management Inc. MA now owns 308,040 shares of the company’s stock worth $6,931,000 after buying an additional 94,927 shares during the period. Uniplan Investment Counsel Inc. increased its stake in shares of Ceva by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 234,839 shares of the company’s stock worth $5,284,000 after buying an additional 816 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Ceva during the second quarter worth about $4,789,000. 87.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Ceva Inc. (NASDAQ:CEVA) traded up 0.071% during trading on Monday, reaching $35.095. The company had a trading volume of 28,159 shares. The stock has a market capitalization of $735.59 million, a price-to-earnings ratio of 73.115 and a beta of 0.97. Ceva Inc. has a 52-week low of $17.11 and a 52-week high of $36.81. The stock has a 50 day moving average of $32.37 and a 200 day moving average of $27.55.
Ceva (NASDAQ:CEVA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The company earned $17.10 million during the quarter, compared to the consensus estimate of $17.02 million. Ceva had a return on equity of 5.87% and a net margin of 15.36%. The company’s revenue was up 27.6% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. Equities research analysts forecast that Ceva Inc. will post $0.83 EPS for the current year.
CEVA has been the subject of a number of recent analyst reports. Benchmark Co. set a $36.00 price target on Ceva and gave the stock a “buy” rating in a report on Wednesday, September 14th. Zacks Investment Research raised Ceva from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Monday, July 4th. Wunderlich boosted their target price on Ceva from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $37.00 target price (up from $32.00) on shares of Ceva in a report on Friday, August 5th. Finally, Roth Capital started coverage on Ceva in a report on Wednesday, September 28th. They issued a “buy” rating and a $40.00 target price for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Ceva presently has a consensus rating of “Buy” and a consensus target price of $32.20.
In other news, major shareholder Senvest Management, Llc sold 155,100 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $29.40, for a total transaction of $4,559,940.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce Mann sold 1,796 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $31.85, for a total transaction of $57,202.60. Following the transaction, the director now directly owns 9,678 shares in the company, valued at approximately $308,244.30. The disclosure for this sale can be found here. Insiders own 4.60% 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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