Two Sigma Advisers LP Has $879,000 Holdings in CEVA, Inc. (NASDAQ:CEVA)

Two Sigma Advisers LP cut its holdings in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 55.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,872 shares of the semiconductor company's stock after selling 34,400 shares during the quarter. Two Sigma Advisers LP owned approximately 0.12% of CEVA worth $879,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of CEVA during the 4th quarter worth about $40,000. Meeder Asset Management Inc. acquired a new position in CEVA during the fourth quarter worth approximately $46,000. KLP Kapitalforvaltning AS acquired a new position in CEVA during the fourth quarter worth approximately $129,000. Cornerstone Investment Partners LLC bought a new stake in CEVA in the fourth quarter valued at approximately $215,000. Finally, Arizona State Retirement System acquired a new stake in CEVA during the 4th quarter valued at $217,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CEVA shares. Barclays decreased their target price on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Rosenblatt Securities restated a "buy" rating and issued a $40.00 target price on shares of CEVA in a research report on Thursday, May 8th. Oppenheimer reduced their price target on shares of 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 downgraded shares of CEVA from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, CEVA has a consensus rating of "Moderate Buy" and an average price target of $35.60.

CEVA Trading Down 0.9%

NASDAQ:CEVA traded down $0.20 on Thursday, hitting $20.46. The company had a trading volume of 38,895 shares, compared to its average volume of 230,130. CEVA, Inc. has a 52 week low of $16.02 and a 52 week high of $38.94. The stock has a market capitalization of $489.29 million, a price-to-earnings ratio of -55.25 and a beta of 1.23. The firm has a 50 day moving average of $22.72 and a two-hundred day moving average of $28.70.

CEVA (NASDAQ:CEVA - Get Free Report) last posted its 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 the consensus estimate 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 was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, equities analysts forecast that CEVA, Inc. will post -0.12 EPS for the current year.

Insider Activity at CEVA

In related news, Director Louis Silver sold 4,520 shares of CEVA stock in a transaction on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the completion of the transaction, the director now owns 47,038 shares of the company's stock, valued at $1,457,237.24. This trade represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by company insiders.

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.