CEVA, Inc. (NASDAQ:CEVA) Shares Bought by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. raised its position in CEVA, Inc. (NASDAQ:CEVA) by 18.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 508,738 shares of the semiconductor company’s stock after buying an additional 79,500 shares during the period. Pictet Asset Management Ltd.’s holdings in CEVA were worth $21,495,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its stake in CEVA by 149,831.4% in the first quarter. BlackRock Inc. now owns 2,532,342 shares of the semiconductor company’s stock worth $89,898,000 after buying an additional 2,530,653 shares during the last quarter. Vanguard Group Inc. raised its stake in CEVA by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,930,411 shares of the semiconductor company’s stock worth $68,530,000 after buying an additional 94,517 shares during the last quarter. AWM Investment Company Inc. raised its stake in CEVA by 1.6% in the first quarter. AWM Investment Company Inc. now owns 1,125,068 shares of the semiconductor company’s stock worth $39,940,000 after buying an additional 17,658 shares during the last quarter. State Street Corp raised its stake in CEVA by 11.6% in the first quarter. State Street Corp now owns 573,784 shares of the semiconductor company’s stock worth $20,373,000 after buying an additional 59,831 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in CEVA by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 476,553 shares of the semiconductor company’s stock worth $16,918,000 after buying an additional 5,137 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.
Shares of CEVA, Inc. (NASDAQ:CEVA) opened at 41.00 on Friday. CEVA, Inc. has a one year low of $28.15 and a one year high of $48.67. The company has a market cap of $890.15 million, a price-to-earnings ratio of 54.23 and a beta of 0.63. The company has a 50 day moving average price of $45.43 and a 200 day moving average price of $39.79.
CEVA (NASDAQ:CEVA) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $20.57 million during the quarter, compared to analyst estimates of $19.66 million. CEVA had a return on equity of 6.97% and a net margin of 18.99%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Equities analysts predict that CEVA, Inc. will post $1.14 EPS for the current year.
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Several analysts recently commented on CEVA shares. BidaskClub lowered CEVA from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Canaccord Genuity lifted their price objective on CEVA from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $42.00 price objective (up previously from $37.00) on shares of CEVA in a report on Friday, May 5th. Roth Capital lifted their price objective on CEVA from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Benchmark Co. lifted their price objective on CEVA from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $44.71.
In related news, Director Peter Mcmanamon sold 1,497 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $45.00, for a total value of $67,365.00. Following the completion of the transaction, the director now 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 accessible through this hyperlink. Also, CEO Gideon Wertheizer sold 898 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $42.25, for a total value of $37,940.50. Following the completion of the transaction, the chief executive officer now owns 81,783 shares of the company’s stock, valued at approximately $3,455,331.75. The disclosure for this sale can be found here. Insiders sold a total of 54,762 shares of company stock valued at $2,336,245 in the last 90 days. 3.90% of the stock is currently 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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