CEVA, Inc. (CEVA) Shares Sold by Timpani Capital Management LLC
Timpani Capital Management LLC lowered its position in CEVA, Inc. (NASDAQ:CEVA) by 53.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,240 shares of the semiconductor company’s stock after selling 52,061 shares during the quarter. Timpani Capital Management LLC owned 0.21% of CEVA worth $2,102,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of CEVA. BlackRock Inc. boosted its holdings in CEVA by 149,831.4% in the first quarter. BlackRock Inc. now owns 2,532,342 shares of the semiconductor company’s stock valued at $89,898,000 after acquiring an additional 2,530,653 shares during the last quarter. Oaktop Capital Management II L.P. acquired a new position in CEVA in the second quarter valued at $33,807,000. Teachers Advisors LLC boosted its holdings in CEVA by 723.5% in the first quarter. Teachers Advisors LLC now owns 313,466 shares of the semiconductor company’s stock valued at $11,128,000 after acquiring an additional 275,403 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in CEVA by 328.0% in the second quarter. Baillie Gifford & Co. now owns 183,400 shares of the semiconductor company’s stock valued at $8,336,000 after acquiring an additional 140,553 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in CEVA in the second quarter valued at $5,875,000. Hedge funds and other institutional investors own 87.29% of the company’s stock.
In other CEVA news, Director Peter Mcmanamon sold 1,497 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $45.00, for a total transaction of $67,365.00. Following the transaction, the director now directly owns 264,054 shares of the company’s stock, valued at $11,882,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.90% of the company’s stock.
A number of research analysts recently weighed in on the company. Roth Capital lifted their target price on CEVA from $47.00 to $53.00 and gave the company a “buy” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. lifted their target price on CEVA from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, May 15th. BidaskClub cut CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Benchmark Co. lifted their target price on CEVA from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 5th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $45.00 target price on shares of CEVA in a report on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $44.71.
Shares of CEVA, Inc. (CEVA) traded down 0.13% on Friday, hitting $39.75. The company’s stock had a trading volume of 117,539 shares. The stock’s 50 day moving average price is $42.64 and its 200 day moving average price is $40.58. The stock has a market capitalization of $873.07 million, a P/E ratio of 52.58 and a beta of 0.66. CEVA, Inc. has a 52 week low of $28.15 and a 52 week high of $48.67.
CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $20.57 million for the quarter, compared to the consensus estimate of $19.66 million. CEVA had a net margin of 20.52% and a return on equity of 8.24%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. On average, analysts forecast that CEVA, Inc. will post $1.14 earnings per share for the current fiscal year.
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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