Bank of America Corp DE lessened its stake in shares of 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 approximately 0.12% of CEVA worth $901,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Rhumbline Advisers lifted its position in CEVA by 2.8% during the 4th 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 during the period. Principal Financial Group Inc. boosted its position in CEVA by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company's stock worth $3,637,000 after purchasing an additional 3,171 shares in the last quarter. D.A. Davidson & CO. increased its holdings in CEVA by 7.9% in the fourth quarter. D.A. Davidson & CO. now owns 60,014 shares of the semiconductor company's stock valued at $1,893,000 after buying an additional 4,417 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CEVA by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company's stock valued at $7,154,000 after buying an additional 3,783 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in CEVA during the fourth quarter worth approximately $215,000. Hedge funds and other institutional investors own 85.37% of the company's stock.
Analyst Ratings Changes
CEVA has been the topic of a number of research reports. Oppenheimer decreased their price target on shares of CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Wall Street Zen cut CEVA from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price target on shares of CEVA in a research note on Thursday, May 8th. Finally, Barclays cut their price objective on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.60.
Check Out Our Latest Stock Report on CEVA
Insiders Place Their Bets
In other CEVA news, Director Louis Silver sold 4,520 shares of CEVA stock in a transaction dated Friday, March 14th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.
CEVA Price Performance
Shares of CEVA stock opened at $20.24 on Friday. The firm's 50-day moving average is $22.39 and its two-hundred day moving average is $28.54. The company has a market capitalization of $483.94 million, a PE ratio of -54.70 and a beta of 1.23. CEVA, Inc. has a 12 month low of $16.02 and a 12 month high of $38.94.
CEVA (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings results 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 business had revenue of $24.25 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Sell-side analysts forecast that CEVA, Inc. will post -0.12 EPS for the current year.
CEVA Company Profile
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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.
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