Victory Capital Management Inc. Lowers Holdings in CEVA, Inc. (NASDAQ:CEVA)

Victory Capital Management Inc. decreased its position in CEVA, Inc. (NASDAQ:CEVA) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,562 shares of the semiconductor company’s stock after selling 3,110 shares during the period. Victory Capital Management Inc. owned 0.06% of CEVA worth $331,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CEVA. Bank of New York Mellon Corp lifted its holdings in CEVA by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 248,017 shares of the semiconductor company’s stock worth $4,809,000 after buying an additional 2,958 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in CEVA by 64.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,108 shares of the semiconductor company’s stock worth $80,000 after buying an additional 1,617 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in CEVA during the third quarter worth $270,000. Jump Financial LLC lifted its holdings in CEVA by 104.6% during the third quarter. Jump Financial LLC now owns 19,441 shares of the semiconductor company’s stock worth $377,000 after buying an additional 9,941 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in CEVA by 32.8% during the third quarter. Quantbot Technologies LP now owns 10,938 shares of the semiconductor company’s stock worth $212,000 after buying an additional 2,701 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CEVA shares. TD Cowen upped their target price on CEVA from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price target on shares of CEVA in a research report on Tuesday, February 13th. Finally, Roth Mkm reduced their price target on CEVA from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

CEVA Trading Up 2.0 %

Shares of CEVA stock opened at $19.67 on Friday. The business’s fifty day simple moving average is $21.01 and its 200-day simple moving average is $21.61. The company has a market cap of $463.82 million, a PE ratio of -37.11 and a beta of 1.17. CEVA, Inc. has a 12-month low of $16.38 and a 12-month high of $27.65.

CEVA (NASDAQ:CEVA) last released its earnings results on Thursday, May 9th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.06). CEVA had a negative net margin of 12.91% and a negative return on equity of 5.70%. The firm had revenue of $22.07 million during the quarter, compared to analyst estimates of $23.06 million. On average, equities analysts forecast that CEVA, Inc. will post -0.32 earnings per share for the current year.

Insider Activity at CEVA

In related news, Director Louis Silver sold 4,730 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $23.19, for a total value of $109,688.70. Following the transaction, the director now directly owns 40,576 shares of the company’s stock, valued at approximately $940,957.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by insiders.

CEVA Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.