CEVA (NASDAQ:CEVA) Reaches New 1-Year Low - Should You Sell?

CEVA, Inc. (NASDAQ:CEVA - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $25.17 and last traded at $26.21, with a volume of 159925 shares changing hands. The stock had previously closed at $26.49.

Analyst Ratings Changes

A number of research analysts recently weighed in on CEVA shares. StockNews.com lowered shares of CEVA from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Rosenblatt Securities reissued a "buy" rating and issued a $45.00 price objective on shares of CEVA in a research note on Wednesday, April 23rd. Finally, Barclays boosted their target price on shares of CEVA from $34.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. One 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 $38.60.

CEVA Price Performance

The business has a 50-day moving average of $27.42 and a 200-day moving average of $29.34. The company has a market capitalization of $626.68 million, a P/E ratio of -70.84 and a beta of 1.46.

CEVA (NASDAQ:CEVA - Get Free Report) last announced its earnings results 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%. Sell-side analysts predict that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at CEVA

In related news, Director Louis Silver sold 4,520 shares of the firm'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 transaction of $140,029.60. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On CEVA

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of CEVA by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,165,300 shares of the semiconductor company's stock valued at $68,315,000 after purchasing an additional 24,313 shares during the period. AWM Investment Company Inc. boosted its position in CEVA by 18.0% in the 4th quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company's stock valued at $18,935,000 after buying an additional 91,668 shares during the period. Northern Trust Corp boosted 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 buying an additional 33,737 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in CEVA by 199.6% in 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. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CEVA by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company's stock worth $7,154,000 after acquiring an additional 3,783 shares during the period. Institutional investors own 85.37% 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.

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