Texas Permanent School Fund Corp Decreases Stake in CEVA, Inc. (NASDAQ:CEVA)

Texas Permanent School Fund Corp reduced its position in CEVA, Inc. (NASDAQ:CEVA) by 14.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,634 shares of the semiconductor company’s stock after selling 2,986 shares during the period. Texas Permanent School Fund Corp owned approximately 0.07% of CEVA worth $340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in CEVA in the 2nd quarter valued at about $395,000. Acadian Asset Management LLC boosted its position in CEVA by 8.3% in the 2nd quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after buying an additional 43,266 shares during the last quarter. nVerses Capital LLC purchased a new position in CEVA in the 2nd quarter valued at about $50,000. Silverberg Bernstein Capital Management LLC raised its stake in shares of CEVA by 3.9% in 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 purchasing an additional 2,700 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of CEVA in the 1st quarter valued at about $423,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CEVA. Oppenheimer upped their target price on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Roth Mkm upgraded shares of CEVA from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $25.00 in a research note on Thursday, August 8th. Finally, StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and four 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 an average target price of $28.50.

CEVA Stock Down 1.3 %

CEVA opened at $23.11 on Friday. The firm has a market cap of $547.48 million, a price-to-earnings ratio of -43.60 and a beta of 1.19. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $25.43. The company’s 50-day moving average price is $21.92 and its 200 day moving average price is $21.13.

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

CEVA 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.