New York State Teachers Retirement System Sells 1,847 Shares of CEVA, Inc. (NASDAQ:CEVA)

New York State Teachers Retirement System reduced its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,066 shares of the semiconductor company’s stock after selling 1,847 shares during the period. New York State Teachers Retirement System owned about 0.19% of CEVA worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Silverberg Bernstein Capital Management LLC bought a new stake in shares of CEVA during the fourth quarter worth about $1,653,000. PNC Financial Services Group Inc. boosted its holdings in CEVA by 99.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in CEVA by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,320 shares of the semiconductor company’s stock valued at $7,665,000 after acquiring an additional 101,737 shares during the last quarter. Numerai GP LLC bought a new stake in CEVA in the third quarter valued at approximately $201,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CEVA by 38.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,771 shares of the semiconductor company’s stock valued at $248,000 after acquiring an additional 3,549 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

CEVA Stock Performance

Shares of CEVA opened at $19.53 on Thursday. CEVA, Inc. has a 52-week low of $16.38 and a 52-week high of $28.78. The business’s 50 day moving average price is $22.61 and its two-hundred day moving average price is $21.34. The firm has a market cap of $460.56 million, a PE ratio of -39.06 and a beta of 1.14.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. CEVA had a negative return on equity of 5.30% and a negative net margin of 11.52%. The firm had revenue of $24.16 million for the quarter, compared to analyst estimates of $24.32 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was down 20.4% compared to the same quarter last year. Research analysts predict that CEVA, Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at CEVA

In other CEVA news, Director Louis Silver sold 4,730 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $23.19, for a total value of $109,688.70. Following the transaction, the director now directly owns 40,576 shares of the company’s stock, valued at $940,957.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CEVA. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price on shares of CEVA in a report on Tuesday, February 13th. TD Cowen upped their target price on CEVA from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.