Jane Street Group LLC cut its holdings in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 55.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,631 shares of the semiconductor company's stock after selling 75,430 shares during the period. Jane Street Group LLC owned 0.26% of CEVA worth $1,944,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CEVA. Harvest Fund Management Co. Ltd acquired a new stake in shares of CEVA in the 4th quarter worth $40,000. Meeder Asset Management Inc. acquired a new stake in shares of CEVA in the fourth quarter valued at approximately $46,000. KLP Kapitalforvaltning AS acquired a new position in shares of CEVA during the 4th quarter worth approximately $129,000. Cornerstone Investment Partners LLC purchased a new stake in CEVA in the 4th quarter valued at approximately $215,000. Finally, Arizona State Retirement System purchased a new stake in CEVA in the 4th quarter valued at approximately $217,000. Hedge funds and other institutional investors own 85.37% of the company's stock.
Insider Activity at CEVA
In other CEVA news, Director Louis Silver sold 4,520 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was 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 $1,457,237.24. This represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company's stock.
CEVA Trading Down 1.4%
CEVA stock traded down $0.29 during mid-day trading on Wednesday, hitting $20.41. 120,546 shares of the company were exchanged, compared to its average volume of 224,293. The company has a market capitalization of $488.00 million, a PE ratio of -55.18 and a beta of 1.37. The firm has a fifty day simple moving average of $24.84 and a 200 day simple moving average of $29.28. CEVA, Inc. has a twelve month low of $16.02 and a twelve month 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 the consensus estimate of $0.07 by ($0.01). The firm had revenue of $24.25 million for 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 company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) EPS. As a group, sell-side analysts anticipate that CEVA, Inc. will post -0.12 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $40.00 price objective on shares of CEVA in a research report on Thursday, May 8th. StockNews.com downgraded shares of CEVA from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Oppenheimer cut their price target on shares of CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Finally, Barclays decreased their price target on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.60.
Get Our Latest Stock Analysis on CEVA
About CEVA
(
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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