19,950 Shares in Ceva, Inc. $CEVA Bought by Oakmont Investment Advisors Inc.

Oakmont Investment Advisors Inc. bought a new position in Ceva, Inc. (NASDAQ:CEVA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 19,950 shares of the semiconductor company’s stock, valued at approximately $705,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC boosted its stake in shares of Ceva by 202.0% in the 2nd quarter. Tidal Investments LLC now owns 58,121 shares of the semiconductor company’s stock valued at $2,741,000 after purchasing an additional 38,876 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Ceva during the 2nd quarter valued at $4,482,000. Hsbc Holdings PLC bought a new position in shares of Ceva during the 4th quarter valued at $777,000. BlackRock Inc. bought a new position in shares of Ceva during the 2nd quarter valued at $113,995,000. Finally, Deutsche Bank AG purchased a new position in Ceva in the 2nd quarter worth $33,941,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Price Performance

Shares of Ceva stock opened at $29.78 on Thursday. The business’s 50 day simple moving average is $30.49 and its two-hundred day simple moving average is $34.53. The stock has a market capitalization of $838.31 million, a P/E ratio of -74.45 and a beta of 1.93. Ceva, Inc. has a one year low of $17.02 and a one year high of $51.60.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $29.03 million during the quarter, compared to the consensus estimate of $28.19 million. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.48%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. Sell-side analysts expect that Ceva, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

CEVA has been the subject of several recent research reports. Oppenheimer lowered their price target on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. TD Cowen cut their price target on shares of Ceva from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Monday. Stifel Nicolaus raised their price objective on Ceva from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Wall Street Zen cut Ceva from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Rosenblatt Securities lifted their price objective on Ceva from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ceva currently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

About Ceva

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.