Robertson Opportunity Capital Lowers stake in CEVA (CEVA)

CEVA (CEVA) : Robertson Opportunity Capital reduced its stake in CEVA by 20.0% during the most recent quarter end. The investment management company now holds a total of 105,600 shares of CEVA which is valued at $3,131,040 after selling 26,400 shares in CEVA , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.CEVA makes up approximately 2.24% of Robertson Opportunity Capital’s portfolio.

Other Hedge Funds, Including , Putnam Investments reduced its stake in CEVA by selling 80,801 shares or 38.56% in the most recent quarter. The Hedge Fund company now holds 128,728 shares of CEVA which is valued at $3,816,785. CEVA makes up approx 0.01% of Putnam Investments’s portfolio.Senvest Management reduced its stake in CEVA by selling 322,183 shares or 14.3% in the most recent quarter. The Hedge Fund company now holds 1,931,408 shares of CEVA which is valued at $55,045,128. CEVA makes up approx 4.33% of Senvest Management’s portfolio.Comerica Bank boosted its stake in CEVA in the latest quarter, The investment management firm added 619 additional shares and now holds a total of 21,025 shares of CEVA which is valued at $599,213. CEVA makes up approx 0.01% of Comerica Bank’s portfolio. Advisors Preferred sold out all of its stake in CEVA during the most recent quarter. The investment firm sold 526 shares of CEVA which is valued $16,438.

CEVA (CEVA) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $31.4 and reached the intraday high at $31.65. The bulls started the profit booking and pushed the shares to intraday low of $30.7. The trading session was marked by a volume range of 1,40,047 shares exchanging hands. The 52-week high of the shares is $36.81 and the 52-week low is $17.105. The market cap of the company stands at $670 M and there are 2,12,30,589 shares in public circulation.

On the company’s financial health, CEVA reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.22. The company had revenue of $17.85 million for the quarter, compared to analysts expectations of $17.68 million. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on CEVA. CEVA was Initiated by ROTH Capital to “Buy” on Sep 29, 2016.

CEVA Inc. is a licensor of cellular multimedia and connectivity technologies to semiconductor companies and original equipment manufacturers (OEMs) serving the mobile consumer automotive and Internet of things (IoT) markets. The Company licenses a family of programmable digital signal processing (DSP) cores and application-specific platforms vision imaging audio and voice as well as communications technologies including wireless and wired modems Wi-Fi Bluetooth and Serial ATA (SATA) and Serial Attached SCSI (SAS). Its DSP intellectual property (IP) portfolio includes platforms for multimode 2G/3G /LTE/LTE-A baseband processing in cellular and infrastructure computer vision and computational photography for camera-enabled device audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. For connectivity the Company offers IPs for Bluetooth (Smart and Smart Ready) Wi-Fi (802.11 b/g/n/ac up to 4×4) and serial storage (SATA and SAS).

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