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

Migdal Insurance & Financial Holdings Ltd. reduced its position in Ceva, Inc. (NASDAQ:CEVA - Free Report) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,854 shares of the semiconductor company's stock after selling 24,967 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 1.38% of Ceva worth $8,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. lifted its position in Ceva by 5.7% during the 1st quarter. D.A. Davidson & CO. now owns 63,437 shares of the semiconductor company's stock worth $1,625,000 after acquiring an additional 3,423 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Ceva by 2.3% during the first quarter. Principal Financial Group Inc. now owns 117,894 shares of the semiconductor company's stock valued at $3,019,000 after purchasing an additional 2,629 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Ceva during the first quarter worth $922,000. GAMMA Investing LLC boosted its stake in shares of Ceva by 44.5% in the first quarter. GAMMA Investing LLC now owns 3,437 shares of the semiconductor company's stock valued at $88,000 after purchasing an additional 1,058 shares during the period. Finally, Silverberg Bernstein Capital Management LLC increased its stake in Ceva by 16.9% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 89,254 shares of the semiconductor company's stock worth $2,286,000 after buying an additional 12,900 shares during the period. 85.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CEVA. Wall Street Zen cut shares of Ceva from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Barclays cut their price target on Ceva from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Oppenheimer lowered their price objective on Ceva from $40.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Rosenblatt Securities restated a "buy" rating and set a $40.00 price objective on shares of Ceva in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $35.60.

Ceva Trading Down 0.1%

CEVA stock traded down $0.03 during mid-day trading on Friday, hitting $23.24. 316,762 shares of the company were exchanged, compared to its average volume of 242,857. The firm has a fifty day simple moving average of $21.25 and a 200 day simple moving average of $26.65. The company has a market capitalization of $555.67 million, a PE ratio of -83.00 and a beta of 1.26. Ceva, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94.

Ceva (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Ceva had a negative return on equity of 1.75% and a negative net margin of 6.11%. The firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $26.55 million. During the same quarter last year, the business posted ($0.05) earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Ceva, Inc. will post -0.12 earnings per share for the current year.

Ceva Company 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.