Lazard Asset Management LLC Takes Position in CEVA, Inc. (NASDAQ:CEVA)

Lazard Asset Management LLC bought a new stake in CEVA, Inc. (NASDAQ:CEVA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,543 shares of the semiconductor company's stock, valued at approximately $457,000. Lazard Asset Management LLC owned about 0.06% of CEVA at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Franklin Resources Inc. raised its position in shares of CEVA by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company's stock valued at $1,071,000 after acquiring an additional 507 shares during the period. Magnetar Financial LLC raised its position in shares of CEVA by 2.8% in the 4th quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company's stock valued at $623,000 after acquiring an additional 531 shares during the period. Two Sigma Securities LLC raised its position in shares of CEVA by 11.6% in the 4th quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company's stock valued at $297,000 after acquiring an additional 978 shares during the period. Barclays PLC raised its position in shares of CEVA by 2.5% in the 4th quarter. Barclays PLC now owns 42,929 shares of the semiconductor company's stock valued at $1,354,000 after acquiring an additional 1,029 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of CEVA in the 4th quarter valued at approximately $40,000. Institutional investors own 85.37% of the company's stock.

CEVA Stock Performance

CEVA stock traded up $0.34 during mid-day trading on Tuesday, hitting $19.47. 355,030 shares of the company were exchanged, compared to its average volume of 227,374. The firm has a market cap of $465.53 million, a P/E ratio of -52.62 and a beta of 1.37. The firm's 50 day simple moving average is $23.60 and its 200 day simple moving average is $29.00. CEVA, Inc. has a 1-year low of $16.02 and a 1-year high of $38.94.

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). The company had revenue of $24.25 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. On average, equities research analysts predict that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Louis Silver sold 4,520 shares of CEVA 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

CEVA has been the topic of a number of analyst reports. Barclays cut their price target 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. Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 price target on shares of CEVA in a research report on Thursday, May 8th. Oppenheimer cut their price target 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, 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 given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.60.

About CEVA

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.