CEVA, Inc. (NASDAQ:CEVA) Position Lowered by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its position in CEVA, Inc. (NASDAQ:CEVA - Free Report) by 46.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,573 shares of the semiconductor company's stock after selling 37,072 shares during the period. Squarepoint Ops LLC owned about 0.18% of CEVA worth $1,375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake 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 worth $1,071,000 after buying an additional 507 shares during the last quarter. Magnetar Financial LLC increased its holdings in CEVA by 2.8% during the 4th quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company's stock valued at $623,000 after acquiring an additional 531 shares in the last quarter. Two Sigma Securities LLC increased its holdings in CEVA by 11.6% during the 4th quarter. Two Sigma Securities LLC now owns 9,425 shares of the semiconductor company's stock valued at $297,000 after acquiring an additional 978 shares in the last quarter. Barclays PLC raised its position in CEVA by 2.5% during the fourth quarter. Barclays PLC now owns 42,929 shares of the semiconductor company's stock worth $1,354,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of CEVA in the fourth quarter valued at about $40,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CEVA has been the subject of a number of recent research reports. Oppenheimer dropped their price objective on shares of CEVA from $40.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Rosenblatt Securities reiterated a "buy" rating and set a $40.00 target price on shares of CEVA in a report on Thursday, May 8th. Wall Street Zen cut CEVA from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Barclays reduced their price objective on CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a research 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. According to MarketBeat.com, CEVA has a consensus rating of "Moderate Buy" and a consensus target price of $35.60.

Insiders Place Their Bets

In related news, Director Louis Silver sold 4,520 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $30.98, for a total value of $140,029.60. Following the completion of the sale, the director now directly owns 47,038 shares in the company, valued at approximately $1,457,237.24. The trade was a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

CEVA Stock Performance

NASDAQ CEVA traded up $0.89 during mid-day trading on Wednesday, reaching $20.66. 341,270 shares of the stock were exchanged, compared to its average volume of 230,866. The stock has a market capitalization of $493.98 million, a PE ratio of -55.84 and a beta of 1.23. CEVA, Inc. has a 1-year low of $16.02 and a 1-year high of $38.94. The business's fifty day simple moving average is $22.72 and its 200 day simple moving average is $28.70.

CEVA (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The business had revenue of $24.25 million for the quarter, compared to analysts' expectations of $26.55 million. CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. On average, analysts anticipate 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.