Rhumbline Advisers boosted its stake in CEVA, Inc. (NASDAQ:CEVA) by 4.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 53,568 shares of the semiconductor company’s stock after buying an additional 2,184 shares during the quarter. Rhumbline Advisers’ holdings in CEVA were worth $1,618,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP lifted its stake in CEVA by 813.1% in the 1st quarter. Quantbot Technologies LP now owns 3,351 shares of the semiconductor company’s stock worth $121,000 after purchasing an additional 2,984 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in CEVA in the 2nd quarter worth $156,000. WINTON GROUP Ltd purchased a new stake in CEVA in the 1st quarter worth $203,000. Victory Capital Management Inc. lifted its stake in CEVA by 37.1% in the 1st quarter. Victory Capital Management Inc. now owns 5,746 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 1,555 shares in the last quarter. Finally, Worth Venture Partners LLC purchased a new stake in CEVA in the 1st quarter worth $330,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

Shares of NASDAQ CEVA opened at $28.50 on Friday. The stock has a market cap of $636.71 million, a PE ratio of 111.15, a price-to-earnings-growth ratio of 20.64 and a beta of 1.07. CEVA, Inc. has a 12-month low of $26.10 and a 12-month high of $51.80.

CEVA (NASDAQ:CEVA) last announced its earnings results on Tuesday, August 7th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $17.49 million for the quarter, compared to analysts’ expectations of $18.95 million. CEVA had a net margin of 5.87% and a return on equity of 2.43%. sell-side analysts anticipate that CEVA, Inc. will post 0.07 earnings per share for the current fiscal year.

Several brokerages have commented on CEVA. BidaskClub upgraded shares of CEVA from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. Northland Securities started coverage on shares of CEVA in a research note on Tuesday, June 5th. They issued an “outperform” rating and a $39.00 price target on the stock. Zacks Investment Research upgraded shares of CEVA from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Roth Capital decreased their target price on shares of CEVA from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Finally, Barclays decreased their target price on shares of CEVA from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.43.

In other news, Director Maria Marced sold 2,770 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $29.50, for a total transaction of $81,715.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by corporate insiders.

CEVA Profile

CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of Things (IoT) markets worldwide. The company licenses a family of programmable digital signal processor (DSP) cores and application-specific platforms for imaging, computer vision, deep learning, sound, voice, and audio processing; and long range wireless technologies for LTE/5G baseband processing in IoT, handsets, and infrastructure, as well as short range wireless platforms for Wi-Fi and Bluetooth.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for CEVA (NASDAQ:CEVA)

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