Nuveen Asset Management LLC Grows Position in CEVA, Inc. (NASDAQ:CEVA)

Nuveen Asset Management LLC raised its position in CEVA, Inc. (NASDAQ:CEVA) by 0.3% in the fourth quarter, Holdings Channel reports. The fund owned 86,302 shares of the semiconductor company’s stock after buying an additional 251 shares during the period. Nuveen Asset Management LLC’s holdings in CEVA were worth $3,927,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of CEVA by 2.5% in the 4th quarter. BlackRock Inc. now owns 3,420,274 shares of the semiconductor company’s stock valued at $155,621,000 after purchasing an additional 84,474 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of CEVA by 9.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,215,003 shares of the semiconductor company’s stock worth $55,283,000 after purchasing an additional 99,992 shares during the last quarter. Phoenix Holdings Ltd. grew its stake in shares of CEVA by 42.1% during the fourth quarter. Phoenix Holdings Ltd. now owns 515,854 shares of the semiconductor company’s stock worth $23,355,000 after purchasing an additional 152,762 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in CEVA by 1.6% in the fourth quarter. Congress Asset Management Co. MA now owns 211,351 shares of the semiconductor company’s stock valued at $9,616,000 after buying an additional 3,308 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in CEVA by 23.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 148,435 shares of the semiconductor company’s stock valued at $6,756,000 after buying an additional 28,296 shares in the last quarter. Institutional investors own 85.90% of the company’s stock.

In other CEVA news, CEO Gideon Wertheizer sold 40,000 shares of CEVA stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $70.63, for a total value of $2,825,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Issachar Ohana sold 5,901 shares of the business’s stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $67.66, for a total value of $399,261.66. Following the completion of the transaction, the executive vice president now directly owns 82,945 shares in the company, valued at approximately $5,612,058.70. The disclosure for this sale can be found here. Insiders have sold a total of 107,343 shares of company stock worth $7,392,417 over the last three months. 3.81% of the stock is currently owned by insiders.

A number of research analysts have recently commented on the company. Barclays increased their price objective on CEVA from $42.00 to $64.00 and gave the company an “equal weight” rating in a report on Thursday, February 18th. Northland Securities lowered shares of CEVA from an “outperform” rating to a “market perform” rating and increased their price target for the company from $51.00 to $78.00 in a research note on Wednesday, February 17th. They noted that the move was a valuation call. Roth Capital raised their price objective on shares of CEVA from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 16th. Zacks Investment Research cut shares of CEVA from a “buy” rating to a “hold” rating in a report on Monday, February 22nd. Finally, Cowen increased their target price on shares of CEVA from $62.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, February 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CEVA has an average rating of “Buy” and a consensus target price of $72.67.

CEVA opened at $54.88 on Wednesday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 5,488.00, a price-to-earnings-growth ratio of 23.97 and a beta of 1.18. CEVA, Inc. has a 52 week low of $28.14 and a 52 week high of $83.95. The business’s 50 day moving average is $56.86 and its two-hundred day moving average is $50.85.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, February 15th. The semiconductor company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The business had revenue of $28.15 million during the quarter, compared to the consensus estimate of $23.13 million. CEVA had a return on equity of 1.26% and a net margin of 0.05%. During the same period in the prior year, the company earned $0.30 earnings per share. On average, sell-side analysts predict that CEVA, Inc. will post -0.09 earnings per share for the current fiscal year.

CEVA Company Profile

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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