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

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

A number of other hedge funds also recently bought and sold shares of the company. Sei Investments Co. lifted its position in CEVA by 4.0% in the third quarter. Sei Investments Co. now owns 12,426 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 480 shares during the last quarter. UBS Group AG lifted its position in CEVA by 1.8% in the third quarter. UBS Group AG now owns 27,968 shares of the semiconductor company’s stock valued at $734,000 after purchasing an additional 489 shares during the last quarter. Select Equity Group L.P. lifted its position in CEVA by 6.7% in the first quarter. Select Equity Group L.P. now owns 8,604 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 540 shares during the last quarter. Captrust Financial Advisors lifted its position in CEVA by 36.5% in the first quarter. Captrust Financial Advisors now owns 2,129 shares of the semiconductor company’s stock valued at $87,000 after purchasing an additional 569 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in CEVA by 0.9% in the second quarter. Nuveen Asset Management LLC now owns 63,649 shares of the semiconductor company’s stock valued at $1,626,000 after purchasing an additional 595 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

CEVA Stock Performance

CEVA opened at $19.53 on Thursday. The stock has a market capitalization of $460.56 million, a PE ratio of -39.06 and a beta of 1.14. The stock’s 50 day moving average price is $22.61 and its 200-day moving average price is $21.34. CEVA, Inc. has a 52-week low of $16.38 and a 52-week high of $28.78.

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

Insider Buying and Selling

In related news, Director Louis Silver sold 4,730 shares of the company’s stock in a transaction 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 sale, 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 the SEC website. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CEVA shares. TD Cowen boosted their price objective on CEVA from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Rosenblatt Securities reissued a “buy” rating and set a $28.00 target price on shares of CEVA in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, CEVA has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

CEVA 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.