UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in CEVA, Inc. (NASDAQ:CEVA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in CEVA, Inc. (NASDAQ:CEVA) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,962 shares of the semiconductor company’s stock after selling 2,642 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of CEVA worth $893,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CEVA. Charles Schwab Investment Management Inc. lifted its stake in shares of CEVA by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock valued at $5,385,000 after buying an additional 16,463 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of CEVA by 97.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock worth $5,114,000 after purchasing an additional 104,453 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of CEVA during the third quarter worth $263,000. D.A. Davidson & CO. purchased a new stake in shares of CEVA in the third quarter valued at $1,343,000. Finally, American Century Companies Inc. increased its stake in CEVA by 18.9% in the second quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock valued at $621,000 after purchasing an additional 5,119 shares during the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

CEVA Stock Performance

CEVA opened at $30.92 on Friday. CEVA, Inc. has a 1 year low of $16.02 and a 1 year high of $33.44. The firm has a 50 day moving average price of $27.78 and a 200 day moving average price of $23.68. The company has a market cap of $730.55 million, a PE ratio of -220.84 and a beta of 1.27.

Wall Street Analyst Weigh In

CEVA has been the topic of a number of research analyst reports. Rosenblatt Securities raised their price target on CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Roth Mkm increased their price target on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

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.