CEVA, Inc. (NASDAQ:CEVA) Shares Sold by Needham Investment Management LLC

Needham Investment Management LLC lessened its holdings in CEVA, Inc. (NASDAQ:CEVA - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,000 shares of the semiconductor company's stock after selling 35,000 shares during the period. Needham Investment Management LLC owned approximately 0.49% of CEVA worth $3,628,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CEVA. ArrowMark Colorado Holdings LLC lifted its stake in CEVA by 199.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock worth $8,035,000 after acquiring an additional 169,677 shares in the last quarter. Norges Bank acquired a new stake in CEVA in the 4th quarter valued at about $2,817,000. Algert Global LLC raised its position in CEVA by 383.5% in the 4th quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company's stock valued at $2,875,000 after purchasing an additional 72,270 shares in the last quarter. JPMorgan Chase & Co. raised its position in CEVA by 55.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company's stock valued at $2,801,000 after purchasing an additional 41,573 shares in the last quarter. Finally, Northern Trust Corp raised its position in CEVA by 14.3% in the 4th quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company's stock valued at $8,530,000 after purchasing an additional 33,737 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company's stock.

Insider Activity at CEVA

In related news, Director Louis Silver sold 4,520 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $30.98, for a total value 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. The trade was a 8.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.

CEVA Stock Performance

CEVA stock traded down $0.10 during midday trading on Friday, reaching $21.23. The company's stock had a trading volume of 387,155 shares, compared to its average volume of 223,236. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $38.94. The stock's 50 day simple moving average is $25.21 and its 200 day simple moving average is $29.25. The firm has a market capitalization of $507.61 million, a PE ratio of -57.38 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CEVA shares. Oppenheimer reduced their price target on CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. 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. Barclays lowered their target price on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, StockNews.com lowered shares of CEVA from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. One research 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, CEVA has an average rating of "Moderate Buy" and a consensus price target of $35.60.

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.