Bank of America Corp DE trimmed its position in CEVA, Inc. (NASDAQ:CEVA - Free Report) by 43.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,569 shares of the semiconductor company's stock after selling 22,167 shares during the period. Bank of America Corp DE owned about 0.12% of CEVA worth $901,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in CEVA by 62.2% in the 4th quarter. BNP Paribas Financial Markets now owns 42,885 shares of the semiconductor company's stock worth $1,353,000 after purchasing an additional 16,453 shares in the last quarter. Algert Global LLC raised its position 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 buying an additional 72,270 shares during the period. ArrowMark Colorado Holdings LLC raised its position in shares of CEVA by 199.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock valued at $8,035,000 after buying an additional 169,677 shares during the period. Northern Trust Corp raised its position in shares of CEVA by 14.3% during 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. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of CEVA during the 4th quarter valued at approximately $596,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other CEVA news, Director Louis Silver sold 4,520 shares of the company's stock in a transaction on 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 in the company, valued at $1,457,237.24. This represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company's stock.
CEVA Stock Performance
Shares of CEVA stock remained flat at $21.44 during trading hours on Wednesday. The stock had a trading volume of 200,403 shares, compared to its average volume of 234,228. CEVA, Inc. has a 1-year low of $16.02 and a 1-year high of $38.94. The firm has a 50-day moving average of $22.28 and a two-hundred day moving average of $28.38. The company has a market capitalization of $512.63 million, a price-to-earnings ratio of -57.94 and a beta of 1.23.
CEVA (NASDAQ:CEVA - Get Free Report) last issued its earnings results 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 firm had revenue of $24.25 million for the quarter, compared to analyst estimates of $26.55 million. CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, sell-side analysts forecast that CEVA, Inc. will post -0.12 earnings per share for the current year.
Analysts Set New Price Targets
CEVA has been the topic of several analyst reports. Wall Street Zen lowered shares of CEVA from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Barclays cut their target price on CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Rosenblatt Securities reissued a "buy" rating and issued a $40.00 target price on shares of CEVA in a research report on Thursday, May 8th. Finally, Oppenheimer cut their target price on CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $35.60.
Read Our Latest Analysis on CEVA
CEVA Profile
(
Free Report)
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.
See Also
Before you consider Ceva, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ceva wasn't on the list.
While Ceva currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
