Ceva Inc. (CEVA) Position Raised by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC raised its position in shares of Ceva Inc. (NASDAQ:CEVA) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 490,014 shares of the company’s stock after buying an additional 6,338 shares during the period. Rice Hall James & Associates LLC owned approximately 2.40% of Ceva worth $13,314,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CEVA. Granahan Investment Management Inc. MA increased its position in 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 last quarter. Spark Investment Management LLC acquired a new position in Ceva during the first quarter worth approximately $747,000. Friess Associates LLC acquired a new position in Ceva during the first quarter worth approximately $691,000. Capstone Asset Management Co. acquired a new position in Ceva during the second quarter worth approximately $250,000. Finally, BNP Paribas Arbitrage SA increased its position in Ceva by 107.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,350 shares of the company’s stock worth $173,000 after buying an additional 3,283 shares during the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.
Ceva Inc. (NASDAQ:CEVA) traded up 1.09% during mid-day trading on Tuesday, reaching $35.36. The company’s stock had a trading volume of 143,998 shares. The stock has a market capitalization of $741.15 million, a price-to-earnings ratio of 73.67 and a beta of 0.97. The firm has a 50-day moving average of $32.49 and a 200-day moving average of $27.75. Ceva Inc. has a 52 week low of $17.11 and a 52 week high of $36.81.
Ceva (NASDAQ:CEVA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Ceva had a return on equity of 5.87% and a net margin of 15.36%. The business had revenue of $17.10 million for the quarter, compared to analysts’ expectations of $17.02 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts expect that Ceva Inc. will post $0.83 earnings per share for the current year.
CEVA has been the topic of a number of recent analyst reports. Benchmark Co. set a $36.00 price objective on Ceva and gave the company a “buy” rating in a report on Wednesday, September 14th. Wunderlich increased their price objective on Ceva from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Roth Capital initiated coverage on Ceva in a report on Wednesday, September 28th. They issued a “buy” rating and a $40.00 price objective on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $37.00 price objective (up previously from $32.00) on shares of Ceva in a report on Friday, August 5th. Finally, Zacks Investment Research upgraded Ceva from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $32.20.
In related news, major shareholder Senvest Management, Llc sold 155,100 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $29.40, for a total value of $4,559,940.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bruce Mann sold 24,204 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $31.85, for a total value of $770,897.40. Following the completion of the transaction, the director now owns 32,086 shares in the company, valued at approximately $1,021,939.10. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate 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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