CEVA, Inc. (NASDAQ:CEVA) Shares Purchased by The PNC Financial Services Group Inc.

The PNC Financial Services Group Inc. lifted its stake in CEVA, Inc. (NASDAQ:CEVA) by 327.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,148 shares of the semiconductor company’s stock after purchasing an additional 3,178 shares during the quarter. The PNC Financial Services Group Inc.’s holdings in CEVA were worth $232,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CEVA. Louisiana State Employees Retirement System increased its stake in CEVA by 2.0% during the first quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the semiconductor company’s stock worth $584,000 after acquiring an additional 200 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in CEVA by 2.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 9,141 shares of the semiconductor company’s stock worth $513,000 after acquiring an additional 200 shares during the last quarter. Nuveen Asset Management LLC increased its stake in CEVA by 0.3% during the fourth quarter. Nuveen Asset Management LLC now owns 86,302 shares of the semiconductor company’s stock worth $3,927,000 after acquiring an additional 251 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of CEVA by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 13,086 shares of the semiconductor company’s stock worth $595,000 after buying an additional 265 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of CEVA by 40.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the semiconductor company’s stock worth $64,000 after buying an additional 400 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CEVA opened at $44.63 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -212.52, a PEG ratio of 144.97 and a beta of 1.04. The company has a fifty day moving average of $50.28. CEVA, Inc. has a 12-month low of $32.17 and a 12-month high of $83.95.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Sunday, May 9th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.05). CEVA had a negative net margin of 4.72% and a negative return on equity of 0.76%. The business had revenue of $25.40 million during the quarter, compared to analyst estimates of $24.01 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts expect that CEVA, Inc. will post 0.02 EPS for the current year.

In other CEVA news, CFO Yaniv Arieli sold 9,197 shares of the firm’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $62.00, for a total value of $570,214.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Boukaya sold 2,331 shares of the firm’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $43.56, for a total value of $101,538.36. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Several research analysts have recently commented on CEVA shares. Northland Securities upgraded CEVA from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $78.00 to $58.00 in a research report on Tuesday, May 11th. Barclays upgraded CEVA from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $64.00 to $56.00 in a research report on Tuesday, May 11th. Roth Capital lowered their price target on CEVA from $100.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, May 10th. They noted that the move was a valuation call. Cowen decreased their target price on CEVA from $88.00 to $70.00 and set an “outperform” rating for the company in a report on Tuesday, May 11th. Finally, Zacks Investment Research upgraded CEVA from a “sell” rating to a “hold” rating in a report on Friday, June 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.00.

CEVA Profile

CEVA, Inc operates as a licensor of wireless connectivity and smart sensing platforms to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI).

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Institutional Ownership by Quarter for CEVA (NASDAQ:CEVA)

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