CEVA, Inc. (NASDAQ:CEVA) Shares Purchased by Northern Trust Corp

Northern Trust Corp grew its position in CEVA, Inc. (NASDAQ:CEVA - Free Report) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 270,372 shares of the semiconductor company's stock after purchasing an additional 33,737 shares during the period. Northern Trust Corp owned approximately 1.14% of CEVA worth $8,530,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CEVA. Harvest Fund Management Co. Ltd purchased a new stake in shares of CEVA in the 4th quarter valued at $40,000. Meeder Asset Management Inc. acquired a new position in shares of CEVA in the 4th quarter valued at about $46,000. KLP Kapitalforvaltning AS acquired a new position in shares of CEVA in the 4th quarter valued at about $129,000. Cornerstone Investment Partners LLC acquired a new position in shares of CEVA in the 4th quarter valued at about $215,000. Finally, Arizona State Retirement System acquired a new position in shares of CEVA in the 4th quarter valued at about $217,000. 85.37% of the stock is owned by institutional investors and hedge funds.

CEVA Stock Performance

Shares of CEVA traded down $0.49 during mid-day trading on Wednesday, hitting $20.21. 251,660 shares of the company were exchanged, compared to its average volume of 225,334. CEVA, Inc. has a 1-year low of $16.02 and a 1-year high of $38.94. The company has a 50 day moving average of $24.45 and a 200-day moving average of $29.16. The stock has a market cap of $483.22 million, a price-to-earnings ratio of -54.62 and a beta of 1.37.

CEVA (NASDAQ:CEVA - Get Free Report) last issued 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). 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 for the quarter, compared to analysts' expectations of $26.55 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that CEVA, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

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 value of $140,029.60. Following the completion of the transaction, the director now owns 47,038 shares in the company, valued at approximately $1,457,237.24. This trade represents a 8.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

Analyst Ratings Changes

CEVA has been the subject of several analyst reports. Oppenheimer decreased 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 reaffirmed a "buy" rating and set a $40.00 target price on shares of CEVA in a report on Thursday, May 8th. StockNews.com lowered shares of CEVA from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Barclays cut their target price on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating for the company 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 MarketBeat, CEVA presently has a consensus rating of "Moderate Buy" and a consensus target price 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.