Jane Street Group LLC decreased its position in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 55.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,631 shares of the semiconductor company's stock after selling 75,430 shares during the quarter. Jane Street Group LLC owned approximately 0.26% of CEVA worth $1,944,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of CEVA during the 4th quarter valued at $40,000. Meeder Asset Management Inc. acquired a new stake in shares of CEVA during the 4th quarter valued at $46,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CEVA during the 4th quarter valued at $129,000. Cornerstone Investment Partners LLC acquired a new stake in shares of CEVA during the 4th quarter valued at $215,000. Finally, Arizona State Retirement System acquired a new position in CEVA during the 4th quarter worth about $217,000. Institutional investors and hedge funds own 85.37% of the company's stock.
Insider Activity
In other news, Director Louis Silver sold 4,520 shares of the business's 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 transaction, the director now directly owns 47,038 shares of the company's stock, valued at $1,457,237.24. The trade was a 8.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by company insiders.
CEVA Stock Performance
Shares of NASDAQ:CEVA traded down $0.44 during midday trading on Thursday, reaching $19.77. The company's stock had a trading volume of 350,707 shares, compared to its average volume of 226,145. The firm has a market capitalization of $472.70 million, a price-to-earnings ratio of -53.43 and a beta of 1.37. The firm has a 50 day moving average price of $24.23 and a two-hundred day moving average price of $29.13. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $38.94.
CEVA (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The business had revenue of $24.25 million during the quarter, compared to analyst estimates of $26.55 million. CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. The firm'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 firm earned ($0.05) earnings per share. As a group, research analysts anticipate that CEVA, Inc. will post -0.12 earnings per share for the current year.
Analysts Set New Price Targets
Several research analysts have commented on CEVA shares. Oppenheimer cut their target price on CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Barclays cut their target price on CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Wall Street Zen downgraded 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 target price on shares of CEVA in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.60.
Get Our Latest Research Report on CEVA
CEVA Profile
(
Free Report)
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.
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