Ceva, Inc. (NASDAQ:CEVA) Holdings Lowered by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. reduced its position in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,854 shares of the semiconductor company's stock after selling 24,967 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned approximately 1.38% of Ceva worth $8,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Ceva by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,165,300 shares of the semiconductor company's stock valued at $68,315,000 after acquiring an additional 24,313 shares during the period. AWM Investment Company Inc. raised its stake in shares of Ceva by 18.0% in the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company's stock valued at $18,935,000 after acquiring an additional 91,668 shares during the period. Northern Trust Corp raised its stake in shares of Ceva by 14.3% in the fourth quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company's stock valued at $8,530,000 after acquiring an additional 33,737 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of Ceva by 199.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company's stock valued at $8,035,000 after acquiring an additional 169,677 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Ceva by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company's stock valued at $7,154,000 after acquiring an additional 3,783 shares during the period. 85.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CEVA. Wall Street Zen cut shares of Ceva from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $40.00 target price on shares of Ceva in a research note on Thursday, May 8th. Oppenheimer reduced their price objective on shares of Ceva from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Barclays reduced their price objective 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ceva currently has an average rating of "Moderate Buy" and a consensus target price of $35.60.

Ceva Stock Up 1.4%

Shares of NASDAQ CEVA traded up $0.32 during midday trading on Monday, hitting $23.56. The stock had a trading volume of 266,133 shares, compared to its average volume of 243,534. The company has a market capitalization of $563.32 million, a price-to-earnings ratio of -84.14 and a beta of 1.26. Ceva, Inc. has a 1-year low of $16.02 and a 1-year high of $38.94. The company has a fifty day moving average price of $21.29 and a 200 day moving average price of $26.52.

Ceva (NASDAQ:CEVA - Get Free Report) last released its quarterly 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 1.75% and a negative net margin of 6.11%. The business's revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. On average, research analysts forecast that Ceva, Inc. will post -0.12 EPS for the current 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.