CEVA, Inc. (NASDAQ:CEVA) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lowered its holdings in CEVA, Inc. (NASDAQ:CEVA - Free Report) by 53.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,376 shares of the semiconductor company's stock after selling 41,418 shares during the quarter. Two Sigma Investments LP owned 0.15% of CEVA worth $1,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of CEVA in the fourth quarter worth $40,000. Meeder Asset Management Inc. acquired a new stake in shares of CEVA in the fourth quarter worth $46,000. KLP Kapitalforvaltning AS acquired a new stake in CEVA during the fourth quarter valued at $129,000. Cornerstone Investment Partners LLC acquired a new stake in CEVA during the fourth quarter valued at $215,000. Finally, Arizona State Retirement System acquired a new stake in CEVA during the fourth quarter valued at $217,000. Institutional investors and hedge funds own 85.37% of the company's stock.

Insider Buying and Selling at CEVA

In other CEVA news, Director Louis Silver sold 4,520 shares of CEVA stock in a transaction dated 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 sale, the director now directly owns 47,038 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

CEVA has been the topic of several analyst reports. Barclays dropped their price target 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. Oppenheimer decreased 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 downgraded shares of CEVA from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Rosenblatt Securities reaffirmed 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.60.

CEVA Stock Performance

Shares of NASDAQ:CEVA traded up $0.30 during midday trading on Friday, hitting $20.24. The company's stock had a trading volume of 247,877 shares, compared to its average volume of 232,928. The business's 50 day simple moving average is $22.39 and its 200 day simple moving average is $28.54. The company has a market cap of $483.94 million, a P/E ratio of -54.70 and a beta of 1.23. CEVA, Inc. has a 12-month low of $16.02 and a 12-month high of $38.94.

CEVA (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share 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 business had revenue of $24.25 million during the quarter, compared to analysts' expectations of $26.55 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that CEVA, Inc. will post -0.12 earnings per share for the current fiscal year.

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.