CEVA, Inc. (NASDAQ:CEVA) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. trimmed its holdings in CEVA, Inc. (NASDAQ:CEVA - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,136 shares of the semiconductor company's stock after selling 48,855 shares during the period. D. E. Shaw & Co. Inc. owned 0.39% of CEVA worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in CEVA in the 4th quarter valued at about $40,000. Meeder Asset Management Inc. acquired a new stake in CEVA in the 4th quarter valued at about $46,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CEVA during the 4th quarter worth about $129,000. Cornerstone Investment Partners LLC purchased a new stake in shares of CEVA during the fourth quarter worth about $215,000. Finally, Arizona State Retirement System acquired a new position in shares of CEVA in the fourth quarter valued at approximately $217,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Louis Silver sold 4,520 shares of the 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 sale, the director now owns 47,038 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CEVA has been the topic of several recent analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $40.00 price objective on shares of CEVA in a research note on Thursday, May 8th. StockNews.com downgraded shares of CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Oppenheimer reduced their price objective 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. Finally, Barclays reduced their price objective on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. 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.com, the company has an average rating of "Moderate Buy" and an average target price of $35.60.

CEVA Stock Performance

Shares of CEVA stock opened at $20.90 on Tuesday. CEVA, Inc. has a one year low of $16.02 and a one year high of $38.94. The company has a 50 day moving average price of $24.84 and a 200 day moving average price of $29.28. The firm has a market capitalization of $499.72 million, a price-to-earnings ratio of -56.48 and a beta of 1.37.

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

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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