Ceva, Inc. (NASDAQ:CEVA) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Ceva, Inc. (NASDAQ:CEVA - Free Report) by 44.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,690 shares of the semiconductor company's stock after selling 15,203 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Ceva worth $485,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CEVA. Charles Schwab Investment Management Inc. raised its position in Ceva by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company's stock worth $7,154,000 after purchasing an additional 3,783 shares during the period. Arizona State Retirement System purchased a new position in shares of Ceva during the fourth quarter worth approximately $217,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Ceva by 1.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,384 shares of the semiconductor company's stock worth $6,764,000 after acquiring an additional 2,613 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of Ceva during the fourth quarter valued at approximately $324,000. Finally, Intech Investment Management LLC purchased a new position in Ceva during the fourth quarter valued at approximately $241,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Ceva Price Performance

NASDAQ CEVA traded up $0.78 on Friday, hitting $23.05. The stock had a trading volume of 222,607 shares, compared to its average volume of 238,386. The business's fifty day moving average price is $21.63 and its 200 day moving average price is $27.25. Ceva, Inc. has a 52-week low of $16.02 and a 52-week high of $38.94. The stock has a market cap of $551.13 million, a price-to-earnings ratio of -82.32 and a beta of 1.26.

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 net margin of 6.11% and a negative return on equity of 1.75%. The company had revenue of $24.25 million for the quarter, compared to analyst estimates of $26.55 million. During the same quarter last year, the company earned ($0.05) EPS. The business's revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ceva, Inc. will post -0.12 EPS for the current year.

Analysts Set New Price Targets

CEVA has been the topic of several research reports. Barclays cut 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. Oppenheimer cut 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. Wall Street Zen lowered shares of Ceva from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $40.00 price objective on shares of Ceva in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Ceva has an average rating of "Moderate Buy" and an average target price of $35.60.

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.