Barclays PLC Trims Stake in CEVA, Inc. (CEVA)

Barclays PLC lowered its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 13.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,773 shares of the semiconductor company’s stock after selling 4,930 shares during the quarter. Barclays PLC owned about 0.14% of CEVA worth $680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of CEVA by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 467,686 shares of the semiconductor company’s stock worth $14,123,000 after acquiring an additional 12,657 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of CEVA by 27.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 22,935 shares of the semiconductor company’s stock worth $659,000 after acquiring an additional 4,977 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of CEVA by 36.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,226 shares of the semiconductor company’s stock worth $2,824,000 after acquiring an additional 26,501 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of CEVA by 3.6% in the 3rd quarter. BlackRock Inc. now owns 3,236,000 shares of the semiconductor company’s stock worth $93,033,000 after acquiring an additional 113,545 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of CEVA in the 3rd quarter worth about $415,000. Hedge funds and other institutional investors own 88.58% of the company’s stock.

Shares of CEVA stock traded down $0.70 during trading hours on Friday, reaching $23.30. 328,387 shares of the company’s stock were exchanged, compared to its average volume of 163,313. CEVA, Inc. has a 1 year low of $20.40 and a 1 year high of $36.80. The firm has a market capitalization of $511.97 million, a price-to-earnings ratio of 211.82 and a beta of 1.74.

CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, February 13th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.08. CEVA had a net margin of 0.74% and a return on equity of 1.00%. The business had revenue of $21.40 million during the quarter, compared to analyst estimates of $22.07 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts expect that CEVA, Inc. will post -0.08 EPS for the current fiscal year.

In related news, EVP Issachar Ohana sold 6,670 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.00, for a total value of $186,760.00. Following the completion of the sale, the executive vice president now owns 34,616 shares of the company’s stock, valued at $969,248. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.

Several research firms have recently issued reports on CEVA. BidaskClub upgraded shares of CEVA from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. ValuEngine lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Cowen lowered their target price on shares of CEVA from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, February 14th. Northland Securities lowered shares of CEVA from an “outperform” rating to a “market perform” rating and set a $27.00 target price for the company. in a report on Thursday, February 14th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $35.00 price objective (down previously from $41.00) on shares of CEVA in a report on Wednesday, February 13th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $33.43.

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About CEVA

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 signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.

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Institutional Ownership by Quarter for CEVA (NASDAQ:CEVA)

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