Principal Financial Group Inc. Trims Holdings in CEVA, Inc. (NASDAQ:CEVA)

Principal Financial Group Inc. reduced its holdings in shares of CEVA, Inc. (NASDAQ:CEVA) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 112,094 shares of the semiconductor company’s stock after selling 4,963 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of CEVA worth $2,707,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in shares of CEVA by 8.3% during the second quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock worth $10,931,000 after buying an additional 43,266 shares during the last quarter. Quest Partners LLC purchased a new position in shares of CEVA in the 2nd quarter valued at approximately $395,000. American Century Companies Inc. increased its holdings in shares of 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 period. Cornercap Investment Counsel Inc. purchased a new stake in shares of CEVA during the second quarter worth approximately $530,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of CEVA by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock worth $16,110,000 after purchasing an additional 44,502 shares during the period. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Stock Up 0.5 %

NASDAQ:CEVA opened at $32.05 on Friday. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $33.44. The firm’s fifty day simple moving average is $29.46 and its 200-day simple moving average is $24.58. The stock has a market cap of $757.25 million, a PE ratio of -228.91 and a beta of 1.27.

Analyst Ratings Changes

Several equities analysts have issued reports on CEVA shares. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Northland Securities boosted their price target on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Rosenblatt Securities increased their price target on shares of CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Roth Mkm lifted their price objective on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.20.

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.