New York State Teachers Retirement System Has $965,000 Position in CEVA, Inc. (NASDAQ:CEVA)

New York State Teachers Retirement System cut its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,960 shares of the semiconductor company’s stock after selling 1,600 shares during the period. New York State Teachers Retirement System owned about 0.17% of CEVA worth $965,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of CEVA by 338.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 1,125 shares during the period. Swiss National Bank lifted its position in CEVA by 5.0% in the 1st quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock worth $1,056,000 after buying an additional 2,200 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of CEVA during the 2nd quarter valued at $43,000. nVerses Capital LLC bought a new stake in shares of CEVA in the 2nd quarter valued at about $50,000. Finally, Silverberg Bernstein Capital Management LLC raised its holdings in CEVA by 3.9% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 71,824 shares of the semiconductor company’s stock valued at $1,385,000 after buying an additional 2,700 shares during the last quarter. 85.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oppenheimer raised their target price on shares of CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of CEVA from a “hold” rating to a “buy” rating in a report on Thursday. Roth Mkm increased their price objective on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Friday. Finally, Rosenblatt Securities upped their price target on shares of CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CEVA has a consensus rating of “Buy” and an average price target of $34.00.

CEVA Stock Performance

CEVA opened at $28.27 on Friday. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $30.00. The firm’s fifty day moving average is $24.24 and its 200 day moving average is $21.70. The stock has a market cap of $669.72 million, a price-to-earnings ratio of -97.48 and a beta of 1.20.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. The company had revenue of $28.44 million for the quarter, compared to the consensus estimate of $24.47 million. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. On average, equities research analysts predict that CEVA, Inc. will post -0.31 earnings per share for the current year.

About CEVA

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.