MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,979 shares of the semiconductor company's stock after selling 31,502 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.94% of CEVA worth $7,035,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of CEVA by 55.9% during 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. Franklin Resources Inc. boosted its holdings in shares of CEVA by 59.8% during 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. Sei Investments Co. boosted its holdings in shares of CEVA by 21.5% during the 4th quarter. Sei Investments Co. now owns 67,986 shares of the semiconductor company's stock valued at $2,145,000 after buying an additional 12,034 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of CEVA during the 4th quarter valued at $292,000. Finally, Principal Financial Group Inc. boosted its holdings 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 buying an additional 3,171 shares in the last quarter. Institutional investors own 85.37% of the company's stock.
Wall Street Analysts Forecast Growth
CEVA has been the topic of a number of research reports. Rosenblatt Securities restated a "buy" rating and set a $40.00 target price on shares of CEVA in a report on Thursday, May 8th. Oppenheimer cut their price objective on shares of CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Barclays cut their price objective on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of CEVA from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.60.
Check Out Our Latest Research Report on CEVA
Insider Transactions at CEVA
In related news, Director Louis Silver sold 4,520 shares of the stock in a transaction that occurred 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 directly owns 47,038 shares of the company's stock, valued at approximately $1,457,237.24. This represents a 8.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company's stock.
CEVA Stock Down 3.2%
CEVA traded down $0.64 during midday trading on Friday, hitting $19.13. 296,451 shares of the company traded hands, compared to its average volume of 226,549. The firm has a market capitalization of $457.40 million, a PE ratio of -51.70 and a beta of 1.37. The company's 50-day moving average is $24.23 and its 200 day moving average is $29.13. CEVA, Inc. has a 52 week low of $16.02 and a 52 week high of $38.94.
CEVA (NASDAQ:CEVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $26.55 million. CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. CEVA's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. On average, sell-side analysts predict that CEVA, Inc. will post -0.12 earnings per share for the current fiscal year.
CEVA Company 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.
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