Needham Investment Management LLC Sells 35,000 Shares of CEVA, Inc. (NASDAQ:CEVA)

Needham Investment Management LLC cut its position in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 115,000 shares of the semiconductor company's stock after selling 35,000 shares during the quarter. Needham Investment Management LLC owned 0.49% of CEVA worth $3,628,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CEVA. Barclays PLC boosted its stake in shares of CEVA by 389.8% during the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company's stock worth $1,011,000 after acquiring an additional 33,346 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of CEVA by 4.6% during the third quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company's stock worth $441,000 after acquiring an additional 808 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of CEVA by 59.8% during the third quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company's stock worth $842,000 after acquiring an additional 12,515 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CEVA by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company's stock worth $2,801,000 after acquiring an additional 41,573 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of CEVA by 2.8% during the fourth quarter. Rhumbline Advisers now owns 73,270 shares of the semiconductor company's stock worth $2,312,000 after acquiring an additional 2,027 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Rosenblatt Securities restated a "buy" rating and set a $40.00 target price on shares of CEVA in a report on Thursday, May 8th. StockNews.com lowered CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Barclays dropped their price objective on CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Oppenheimer dropped their price objective on CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.60.

CEVA Trading Down 0.5%

CEVA stock traded down $0.10 during trading on Friday, reaching $21.23. 387,155 shares of the stock were exchanged, compared to its average volume of 223,170. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94. The company has a market capitalization of $507.61 million, a P/E ratio of -57.38 and a beta of 1.37. The stock has a 50 day simple moving average of $25.03 and a 200-day simple moving average of $29.26.

CEVA (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The company had revenue of $24.25 million for 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%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. Equities analysts predict that CEVA, Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling at CEVA

In other news, Director Louis Silver sold 4,520 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the transaction, the director now directly owns 47,038 shares of the company's stock, valued at $1,457,237.24. The trade was a 8.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company's stock.

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.