MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in 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 & Exchange Commission. The firm owned 222,979 shares of the semiconductor company's stock after selling 31,502 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.94% of CEVA worth $7,035,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in CEVA by 59.8% in the third quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company's stock worth $842,000 after purchasing an additional 12,515 shares during the period. JPMorgan Chase & Co. raised its holdings in CEVA by 55.9% in the third quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company's stock worth $2,801,000 after purchasing an additional 41,573 shares during the period. Rhumbline Advisers raised its holdings in CEVA by 2.8% in the fourth quarter. Rhumbline Advisers now owns 73,270 shares of the semiconductor company's stock worth $2,312,000 after purchasing an additional 2,027 shares during the period. Principal Financial Group Inc. raised its holdings in CEVA by 2.8% in the fourth 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 during the period. Finally, D.A. Davidson & CO. raised 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 worth $1,893,000 after purchasing an additional 4,417 shares during the period. Institutional investors and hedge funds own 85.37% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on CEVA shares. Barclays cut their target price on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. StockNews.com lowered shares of CEVA from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. 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. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 target price on shares of CEVA in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.60.
Check Out Our Latest Stock Analysis on CEVA
Insider Activity at CEVA
In related news, Director Louis Silver sold 4,520 shares of the firm'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 of the company's stock, valued at approximately $1,457,237.24. This trade represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by insiders.
CEVA Price Performance
Shares of CEVA traded down $0.49 during mid-day trading on Wednesday, hitting $20.21. 251,660 shares of the company's stock were exchanged, compared to its average volume of 224,775. CEVA, Inc. has a 52 week low of $16.02 and a 52 week high of $38.94. The company has a market cap of $483.22 million, a PE ratio of -54.62 and a beta of 1.37. The company has a 50-day simple moving average of $24.45 and a 200 day simple moving average of $29.16.
CEVA (NASDAQ:CEVA - Get Free Report) last released its 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 during 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%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. On average, analysts anticipate that CEVA, Inc. will post -0.12 earnings per share for the current year.
About CEVA
(
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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