CEVA (NASDAQ:CEVA) Cut to Hold at StockNews.com

StockNews.com lowered shares of CEVA (NASDAQ:CEVA) from a buy rating to a hold rating in a report released on Tuesday.

Several other equities research analysts have also recently commented on the company. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 target price on shares of CEVA in a research note on Tuesday, February 11th. Northland Securities raised their price target on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Finally, Barclays upped their target price on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.60.

CEVA Price Performance

Shares of CEVA stock opened at $22.55 on Tuesday. CEVA has a one year low of $16.02 and a one year high of $38.94. The stock has a fifty day moving average price of $31.50 and a 200 day moving average price of $29.43. The stock has a market cap of $539.17 million, a P/E ratio of -60.94 and a beta of 1.32.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. Equities research analysts anticipate that CEVA will post -0.12 EPS for the current year.

Insiders Place Their Bets

In other news, Director Louis Silver sold 4,520 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the transaction, the director now directly owns 47,038 shares of the company’s stock, valued at approximately $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CEVA

Several hedge funds and other institutional investors have recently made changes to their positions in CEVA. ArrowMark Colorado Holdings LLC boosted its stake in shares of CEVA by 199.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company’s stock valued at $8,035,000 after purchasing an additional 169,677 shares in the last quarter. Jane Street Group LLC grew its stake in shares of CEVA by 206.2% during the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock worth $3,310,000 after buying an additional 92,295 shares during the last quarter. AWM Investment Company Inc. increased its holdings in shares of CEVA by 18.0% during the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company’s stock worth $18,935,000 after buying an additional 91,668 shares in the last quarter. Norges Bank bought a new position in shares of CEVA in the 4th quarter valued at $2,817,000. Finally, Algert Global LLC boosted its holdings in shares of CEVA by 383.5% during the 4th quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company’s stock valued at $2,875,000 after acquiring an additional 72,270 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

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.