Northern Trust Corp Buys 33,737 Shares of CEVA, Inc. (NASDAQ:CEVA)

Northern Trust Corp increased its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 14.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 270,372 shares of the semiconductor company’s stock after buying an additional 33,737 shares during the period. Northern Trust Corp owned 1.14% of CEVA worth $8,530,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CEVA. JPMorgan Chase & Co. raised its stake in CEVA by 55.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock worth $2,801,000 after purchasing an additional 41,573 shares in the last quarter. Franklin Resources Inc. raised its stake in CEVA by 59.8% in the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company’s stock worth $842,000 after purchasing an additional 12,515 shares in the last quarter. Sei Investments Co. raised its stake in CEVA by 21.5% in the 4th quarter. Sei Investments Co. now owns 67,986 shares of the semiconductor company’s stock worth $2,145,000 after purchasing an additional 12,034 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in CEVA in the 4th quarter worth about $292,000. Finally, Principal Financial Group Inc. raised its stake in CEVA by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company’s stock worth $3,637,000 after purchasing an additional 3,171 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 4,520 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the sale, the director now directly owns 47,038 shares of the company’s stock, valued at approximately $1,457,237.24. This represents a 8.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

CEVA Trading Down 0.5%

CEVA stock opened at $21.23 on Monday. The firm has a 50 day moving average of $25.03 and a 200-day moving average of $29.26. CEVA, Inc. has a 12 month low of $16.02 and a 12 month high of $38.94. The firm has a market capitalization of $507.61 million, a P/E ratio of -57.38 and a beta of 1.37.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $26.55 million. CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. CEVA’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. Sell-side analysts predict that CEVA, Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

CEVA has been the subject of several analyst reports. Barclays dropped their target price on shares of CEVA from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Oppenheimer dropped their target price on shares of CEVA from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Rosenblatt Securities restated a “buy” rating and issued a $40.00 target price on shares of CEVA in a research report on Thursday, May 8th. Finally, StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.60.

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.