Northern Trust Corp Grows Position in CEVA, Inc. (NASDAQ:CEVA)

Northern Trust Corp grew its holdings in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 14.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 270,372 shares of the semiconductor company's stock after acquiring an additional 33,737 shares during the quarter. Northern Trust Corp owned about 1.14% of CEVA worth $8,530,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CEVA. JPMorgan Chase & Co. raised its position in shares of CEVA by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company's stock worth $2,801,000 after purchasing an additional 41,573 shares during the period. Franklin Resources Inc. increased its holdings in shares of CEVA by 59.8% during the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company's stock valued at $842,000 after acquiring an additional 12,515 shares during the last quarter. Sei Investments Co. increased its holdings in shares of CEVA by 21.5% during the 4th quarter. Sei Investments Co. now owns 67,986 shares of the semiconductor company's stock valued at $2,145,000 after acquiring an additional 12,034 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of CEVA during the 4th quarter valued at about $292,000. Finally, Principal Financial Group Inc. grew its holdings in 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 buying an additional 3,171 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company's stock.

CEVA Stock Performance

Shares of NASDAQ CEVA traded down $0.64 during trading hours on Friday, reaching $19.13. 296,451 shares of the stock were exchanged, compared to its average volume of 226,861. The firm has a market capitalization of $457.40 million, a price-to-earnings ratio of -51.70 and a beta of 1.37. CEVA, Inc. has a 52 week low of $16.02 and a 52 week high of $38.94. The stock's fifty day simple moving average is $24.02 and its 200 day simple moving average is $29.13.

CEVA (NASDAQ:CEVA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. The business had revenue of $24.25 million during the quarter, compared to analyst estimates of $26.55 million. During the same period in the prior year, the business posted ($0.05) EPS. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts predict that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CEVA shares. Barclays lowered their target price on CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Rosenblatt Securities restated a "buy" rating and set a $40.00 target price on shares of CEVA in a research report on Thursday, May 8th. Wall Street Zen downgraded CEVA from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Finally, Oppenheimer cut 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. 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 stock has an average rating of "Moderate Buy" and a consensus target price of $35.60.

Insider Transactions at CEVA

In other news, Director Louis Silver sold 4,520 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the transaction, the director now owns 47,038 shares in the company, valued at $1,457,237.24. The trade was a 8.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.40% of the company's stock.

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.