CEVA (NASDAQ:CEVA) Trading Down 4.9%

CEVA, Inc. (NASDAQ:CEVA)’s stock price dropped 4.9% during mid-day trading on Monday . The stock traded as low as $23.70 and last traded at $23.70. Approximately 33,462 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 148,776 shares. The stock had previously closed at $24.92.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $25.00 in a research report on Thursday, August 8th. Oppenheimer increased their price target on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.50.

CEVA Price Performance

The stock has a market cap of $558.42 million, a price-to-earnings ratio of -47.02 and a beta of 1.19. The stock’s 50 day simple moving average is $21.55 and its two-hundred day simple moving average is $21.10.

CEVA (NASDAQ:CEVA) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. The business had revenue of $28.44 million for the quarter, compared to analysts’ expectations of $24.47 million. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. As a group, analysts predict that CEVA, Inc. will post -0.31 earnings per share for the current year.

Institutional Trading of CEVA

A number of large investors have recently bought and sold shares of CEVA. Quadrant Capital Group LLC grew its holdings in shares of CEVA by 122.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 641 shares during the last quarter. Point72 DIFC Ltd acquired a new position in CEVA in the second quarter valued at about $43,000. nVerses Capital LLC bought a new stake in CEVA during the second quarter worth about $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of CEVA during the second quarter worth approximately $65,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of CEVA in the second quarter valued at approximately $227,000. 85.37% of the stock is currently owned by institutional investors.

About CEVA

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.