Two Sigma Investments LP Sells 41,418 Shares of CEVA, Inc. (NASDAQ:CEVA)

Two Sigma Investments LP decreased its stake in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 53.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,376 shares of the semiconductor company's stock after selling 41,418 shares during the quarter. Two Sigma Investments LP owned about 0.15% of CEVA worth $1,148,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

CEVA has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $40.00 price objective on shares of CEVA in a 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. Wall Street Zen downgraded shares of CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Finally, Barclays dropped their price objective on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. One equities 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.com, CEVA has an average rating of "Moderate Buy" and a consensus price target of $35.60.

Insider Buying and Selling

In related news, Director Louis Silver sold 4,520 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $30.98, for a total value of $140,029.60. Following the sale, the director now directly owns 47,038 shares of the company's stock, valued at $1,457,237.24. This represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

CEVA Trading Up 1.5%

Shares of NASDAQ CEVA traded up $0.30 during trading hours on Friday, hitting $20.24. 247,877 shares of the company traded hands, compared to its average volume of 231,732. The company's 50 day moving average price is $22.50 and its 200 day moving average price is $28.59. CEVA, Inc. has a 12 month low of $16.02 and a 12 month high of $38.94. The stock has a market capitalization of $483.94 million, a price-to-earnings ratio of -54.70 and a beta of 1.23.

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 for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. The firm had revenue of $24.25 million for the quarter, compared to the consensus estimate of $26.55 million. During the same quarter last year, the firm earned ($0.05) EPS. The company's revenue was up 9.8% on a year-over-year basis. Equities analysts anticipate that CEVA, Inc. will post -0.12 EPS for the current 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.