47,047 Shares in CEVA, Inc. (NASDAQ:CEVA) Acquired by Man Group plc

Man Group plc purchased a new stake in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 47,047 shares of the semiconductor company's stock, valued at approximately $1,484,000. Man Group plc owned approximately 0.20% of CEVA at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lazard Asset Management LLC bought a new position in shares of CEVA during the fourth quarter valued at $457,000. Deutsche Bank AG increased its holdings in CEVA by 6.5% in the 4th quarter. Deutsche Bank AG now owns 118,554 shares of the semiconductor company's stock worth $3,740,000 after buying an additional 7,225 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in CEVA by 62.2% in the 4th quarter. BNP Paribas Financial Markets now owns 42,885 shares of the semiconductor company's stock worth $1,353,000 after buying an additional 16,453 shares in the last quarter. Algert Global LLC increased its holdings in CEVA by 383.5% in the 4th quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company's stock worth $2,875,000 after buying an additional 72,270 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in CEVA by 199.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock worth $8,035,000 after buying an additional 169,677 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Louis Silver sold 4,520 shares of CEVA stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the transaction, the director now directly owns 47,038 shares of the company's stock, valued at $1,457,237.24. The trade was a 8.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company's stock.

CEVA Stock Up 0.7%

Shares of CEVA stock traded up $0.14 during trading hours on Thursday, reaching $19.44. 44,799 shares of the stock traded hands, compared to its average volume of 227,216. The company has a 50 day moving average price of $23.42 and a 200 day moving average price of $28.93. The firm has a market capitalization of $464.91 million, a price-to-earnings ratio of -52.51 and a beta of 1.37. CEVA, Inc. has a one year low of $16.02 and a one year high of $38.94.

CEVA (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings data 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). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. The company had revenue of $24.25 million for the quarter, compared to analysts' expectations of $26.55 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm's quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that CEVA, Inc. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays reduced their price objective on CEVA from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Oppenheimer reduced their price objective on CEVA from $40.00 to $33.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 price objective on shares of CEVA in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, CEVA presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.60.

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.