Insider Selling: CEVA, Inc. (NASDAQ:CEVA) Director Sells 4,520 Shares of Stock

CEVA, Inc. (NASDAQ:CEVA) Director Louis Silver sold 4,520 shares of the stock in a transaction 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 completion of the transaction, the director now owns 47,038 shares of the company’s stock, valued at approximately $1,457,237.24. This represents a 8.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CEVA Stock Performance

Shares of NASDAQ CEVA traded down $0.57 during mid-day trading on Tuesday, hitting $30.08. 12,139 shares of the stock were exchanged, compared to its average volume of 160,747. The company has a market cap of $716.11 million, a P/E ratio of -81.30 and a beta of 1.32. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94. The stock’s fifty day simple moving average is $33.03 and its two-hundred day simple moving average is $29.17.

CEVA (NASDAQ:CEVA) last announced 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%. As a group, equities research analysts predict that CEVA, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On CEVA

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in CEVA by 125.8% during the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after buying an additional 779 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of CEVA in the 4th quarter valued at approximately $40,000. Meeder Asset Management Inc. bought a new position in CEVA during the 4th quarter worth approximately $46,000. Point72 DIFC Ltd grew its holdings in CEVA by 16.8% during the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC increased its stake in CEVA by 63.3% in the fourth quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 922 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

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.