CEVA, Inc. (NASDAQ:CEVA) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in CEVA, Inc. (NASDAQ:CEVA) by 96.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,800 shares of the semiconductor company’s stock after acquiring an additional 15,100 shares during the quarter. Renaissance Technologies LLC owned 0.14% of CEVA worth $1,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CEVA. Rhumbline Advisers boosted its holdings in CEVA by 3.5% in the fourth quarter. Rhumbline Advisers now owns 64,211 shares of the semiconductor company’s stock worth $2,922,000 after acquiring an additional 2,188 shares in the last quarter. Credit Suisse AG raised its stake in shares of CEVA by 70.4% in the fourth quarter. Credit Suisse AG now owns 23,555 shares of the semiconductor company’s stock worth $1,073,000 after purchasing an additional 9,730 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of CEVA by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 13,086 shares of the semiconductor company’s stock worth $595,000 after purchasing an additional 265 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CEVA by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,395 shares of the semiconductor company’s stock worth $6,616,000 after purchasing an additional 3,110 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new position in shares of CEVA in the fourth quarter worth about $558,000. 78.71% of the stock is owned by institutional investors and hedge funds.

Shares of CEVA opened at $44.09 on Thursday. CEVA, Inc. has a 12 month low of $35.62 and a 12 month high of $83.95. The firm has a 50 day simple moving average of $44.42. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -209.95, a P/E/G ratio of 139.90 and a beta of 1.04.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Sunday, May 9th. The semiconductor company reported $0.01 EPS for the quarter, missing the 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 period in the previous year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts predict that CEVA, Inc. will post 0.02 EPS for the current year.

Several brokerages have recently issued reports on CEVA. Roth Capital reduced their price objective on CEVA from $100.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, May 10th. They noted that the move was a valuation call. Northland Securities upgraded CEVA from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $78.00 to $58.00 in a research note on Tuesday, May 11th. Cowen reduced their price target on CEVA from $88.00 to $70.00 and set an “outperform” rating for the company in a research report on Tuesday, May 11th. Barclays upgraded CEVA from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $64.00 to $56.00 in a research report on Tuesday, May 11th. Finally, Rosenblatt Securities assumed coverage on CEVA in a research report on Tuesday, June 22nd. They set a “neutral” rating and a $50.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $58.57.

In other news, COO Michael Boukaya sold 2,331 shares of CEVA stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $43.56, for a total value of $101,538.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

About CEVA

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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