CEVA, Inc. (NASDAQ:CEVA) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 32.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 69,277 shares of the semiconductor company's stock after selling 33,546 shares during the period. Millennium Management LLC owned approximately 0.29% of CEVA worth $2,186,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Sei Investments Co. grew its holdings in CEVA by 21.5% during the fourth quarter. Sei Investments Co. now owns 67,986 shares of the semiconductor company's stock worth $2,145,000 after acquiring an additional 12,034 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in CEVA in the 4th quarter worth approximately $292,000. Principal Financial Group Inc. boosted its position in CEVA by 2.8% in the 4th 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 in the last quarter. Rhumbline Advisers grew its stake in shares of CEVA by 2.8% during the 4th 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. Finally, Franklin Resources Inc. increased its holdings in shares of CEVA by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company's stock valued at $1,071,000 after purchasing an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company's stock.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 4,520 shares of the stock in a transaction on Friday, March 14th. The stock was 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 directly owns 47,038 shares of the company's stock, valued at approximately $1,457,237.24. This represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CEVA. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price objective on shares of CEVA in a report on Thursday, May 8th. Barclays cut their price target on CEVA from $40.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Oppenheimer lowered their price target on 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 lowered CEVA from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. One 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 stock has a consensus rating of "Moderate Buy" and an average target price of $35.60.

CEVA Stock Up 5.5%

Shares of NASDAQ CEVA traded up $1.03 during trading on Tuesday, hitting $19.77. The company had a trading volume of 365,580 shares, compared to its average volume of 229,650. The firm has a market capitalization of $472.70 million, a price-to-earnings ratio of -53.43 and a beta of 1.23. The stock has a fifty day simple moving average of $22.87 and a two-hundred day simple moving average of $28.76. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week 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 (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts anticipate that CEVA, Inc. will post -0.12 earnings per share 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.