CEVA, Inc. (NASDAQ:CEVA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,094 shares of the semiconductor company’s stock after selling 4,963 shares during the quarter. Principal Financial Group Inc.’s holdings in CEVA were worth $2,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CEVA. CANADA LIFE ASSURANCE Co boosted its stake in shares of CEVA by 1,693.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock valued at $7,284,000 after buying an additional 303,673 shares during the period. Vanguard Group Inc. increased its stake in shares of CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after buying an additional 62,734 shares during the period. Squarepoint Ops LLC acquired a new stake in CEVA in the second quarter valued at approximately $892,000. Dimensional Fund Advisors LP lifted its stake in CEVA by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock worth $16,110,000 after acquiring an additional 44,502 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in CEVA by 8.3% during the 2nd quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock worth $10,931,000 after acquiring an additional 43,266 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CEVA has been the topic of a number of analyst reports. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Roth Mkm increased their target price on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. Oppenheimer lifted their price target on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Rosenblatt Securities increased their price objective on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.00.

CEVA Price Performance

NASDAQ CEVA opened at $30.44 on Friday. CEVA, Inc. has a 12 month low of $16.02 and a 12 month high of $30.81. The company has a market capitalization of $719.30 million, a price-to-earnings ratio of -217.41 and a beta of 1.20. The firm’s fifty day moving average price is $25.05 and its 200 day moving average price is $22.17.

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.