Congress Asset Management Co. MA Acquires New Stake in CEVA, Inc. (NASDAQ:CEVA)

Congress Asset Management Co. MA purchased a new position in CEVA, Inc. (NASDAQ:CEVA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,885 shares of the semiconductor company’s stock, valued at approximately $383,000. Congress Asset Management Co. MA owned about 0.07% of CEVA as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Senvest Management LLC grew its position in CEVA by 1.6% in the fourth quarter. Senvest Management LLC now owns 1,894,223 shares of the semiconductor company’s stock worth $43,018,000 after buying an additional 30,092 shares during the last quarter. Trexquant Investment LP acquired a new position in CEVA in the fourth quarter worth approximately $1,731,000. Dynamic Technology Lab Private Ltd acquired a new position in CEVA in the fourth quarter worth approximately $358,000. Quadrant Capital Group LLC grew its position in CEVA by 122.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 641 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in CEVA by 15.2% during the 4th quarter. New York State Common Retirement Fund now owns 9,200 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

CEVA Stock Down 3.2 %

Shares of NASDAQ:CEVA opened at $19.34 on Wednesday. The firm has a fifty day moving average of $20.10 and a two-hundred day moving average of $21.42. The firm has a market capitalization of $456.04 million, a P/E ratio of -36.49 and a beta of 1.16. CEVA, Inc. has a 12-month low of $16.38 and a 12-month high of $27.65.

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

Insider Buying and Selling at CEVA

In related news, Director Louis Silver sold 3,934 shares of CEVA stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $20.72, for a total value of $81,512.48. Following the completion of the sale, the director now owns 40,576 shares of the company’s stock, valued at approximately $840,734.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Roth Mkm lowered their price objective on shares of CEVA from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.00.

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.