The Manufacturers Life Insurance Company Has $270,000 Position in CEVA, Inc. (NASDAQ:CEVA)

The Manufacturers Life Insurance Company reduced its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,563 shares of the semiconductor company’s stock after selling 548 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CEVA were worth $270,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CEVA. Vanguard Group Inc. grew its position in shares of CEVA by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,165,300 shares of the semiconductor company’s stock valued at $68,315,000 after purchasing an additional 24,313 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CEVA by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company’s stock valued at $7,154,000 after purchasing an additional 3,783 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CEVA by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,384 shares of the semiconductor company’s stock valued at $6,764,000 after purchasing an additional 2,613 shares during the period. JPMorgan Chase & Co. grew its position in shares of CEVA by 30.9% in the 4th quarter. JPMorgan Chase & Co. now owns 151,788 shares of the semiconductor company’s stock valued at $4,789,000 after purchasing an additional 35,809 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of CEVA by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company’s stock valued at $3,637,000 after purchasing an additional 3,171 shares during the period. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at CEVA

In other news, Director Louis Silver sold 4,520 shares of CEVA stock in a transaction on Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the completion of the sale, the director now owns 47,038 shares of the company’s stock, valued at approximately $1,457,237.24. This trade represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

CEVA Trading Down 0.5%

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

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