CEVA, Inc. (NASDAQ:CEVA) Stock Holdings Lessened by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lessened its stake in CEVA, Inc. (NASDAQ:CEVA - Free Report) by 34.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CEVA. Franklin Resources Inc. grew its position in CEVA by 59.8% in the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company's stock valued at $842,000 after buying an additional 12,515 shares in the last quarter. JPMorgan Chase & Co. grew its position in CEVA by 55.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company's stock valued at $2,801,000 after buying an additional 41,573 shares in the last quarter. Rhumbline Advisers boosted its position in shares of CEVA by 2.8% during the 4th quarter. Rhumbline Advisers now owns 73,270 shares of the semiconductor company's stock valued at $2,312,000 after purchasing an additional 2,027 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CEVA by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company's stock valued at $3,637,000 after purchasing an additional 3,171 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of CEVA by 7.9% during the 4th quarter. D.A. Davidson & CO. now owns 60,014 shares of the semiconductor company's stock valued at $1,893,000 after purchasing an additional 4,417 shares in the last quarter. Institutional investors own 85.37% of the company's stock.

Insiders Place Their Bets

In other CEVA news, Director Louis Silver sold 4,520 shares of the firm's stock in a transaction dated 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 directly owns 47,038 shares in the company, valued at $1,457,237.24. This trade represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

CEVA has been the subject of several research reports. Barclays reduced their price objective on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Wall Street Zen lowered shares of CEVA from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Rosenblatt Securities restated a "buy" rating and set a $40.00 price objective on shares of CEVA in a research report on Thursday, May 8th. Finally, Oppenheimer reduced their price objective on shares of CEVA from $40.00 to $33.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.60.

CEVA Stock Performance

Shares of NASDAQ:CEVA traded down $0.64 during trading hours on Friday, hitting $19.13. 296,451 shares of the company's stock traded hands, compared to its average volume of 226,861. CEVA, Inc. has a 52 week low of $16.02 and a 52 week high of $38.94. The company's fifty day simple moving average is $24.02 and its two-hundred day simple moving average is $29.13. The company has a market cap of $457.40 million, a price-to-earnings ratio of -51.70 and a beta of 1.37.

CEVA (NASDAQ:CEVA - Get Free Report) last announced its 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 firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The business's quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

CEVA 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.