Amalgamated Bank Decreases Holdings in CEVA, Inc. (NASDAQ:CEVA)

Amalgamated Bank lowered its position in CEVA, Inc. (NASDAQ:CEVA) by 9.5% during the second quarter, HoldingsChannel.com reports. The fund owned 6,893 shares of the semiconductor company’s stock after selling 721 shares during the quarter. Amalgamated Bank’s holdings in CEVA were worth $133,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Swiss National Bank increased its holdings in CEVA by 5.0% during the 1st quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock valued at $1,056,000 after acquiring an additional 2,200 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of CEVA during the 2nd quarter worth approximately $50,000. Silverberg Bernstein Capital Management LLC lifted its stake in CEVA by 3.9% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 71,824 shares of the semiconductor company’s stock valued at $1,385,000 after buying an additional 2,700 shares in the last quarter. American Century Companies Inc. grew its holdings in CEVA by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock valued at $621,000 after buying an additional 5,119 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in CEVA by 22.4% during the first quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock worth $816,000 after buying an additional 6,580 shares in the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CEVA. Oppenheimer boosted their target price on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Roth Mkm upgraded shares of CEVA from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $25.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

CEVA Price Performance

Shares of CEVA stock opened at $23.88 on Wednesday. The firm’s 50-day simple moving average is $22.34 and its 200-day simple moving average is $21.11. CEVA, Inc. has a 1-year low of $16.02 and a 1-year high of $25.54. The firm has a market cap of $565.72 million, a P/E ratio of -45.06 and a beta of 1.19.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. The company had revenue of $28.44 million for the quarter, compared to the consensus estimate of $24.47 million. Analysts expect that CEVA, Inc. will post -0.31 earnings per share for the current fiscal year.

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.