CEVA (NASDAQ:CEVA) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of CEVA (NASDAQ:CEVA) from a buy rating to a hold rating in a research report report published on Tuesday.

Several other equities research analysts also recently weighed in on CEVA. Northland Securities lifted their price target on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 target price on shares of CEVA in a research report on Tuesday, February 11th. Finally, Barclays increased their price target on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.60.

CEVA Trading Down 14.0 %

NASDAQ CEVA opened at $22.55 on Tuesday. The firm has a market capitalization of $539.17 million, a PE ratio of -60.94 and a beta of 1.32. The business’s 50-day moving average price is $31.50 and its two-hundred day moving average price is $29.43. CEVA has a 12 month low of $16.02 and a 12 month high of $38.94.

CEVA (NASDAQ:CEVA) last announced its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. As a group, analysts forecast that CEVA will post -0.12 earnings per share for the current fiscal year.

Insider Activity at CEVA

In other CEVA news, Director Louis Silver sold 4,520 shares of the firm’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 sale, the director now owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This trade represents a 8.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CEVA

A number of large investors have recently added to or reduced their stakes in CEVA. Point72 DIFC Ltd boosted its stake in CEVA by 16.8% in the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock worth $64,000 after buying an additional 378 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of CEVA by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company’s stock worth $1,071,000 after acquiring an additional 507 shares during the last quarter. Magnetar Financial LLC boosted its stake in shares of CEVA by 2.8% in the 4th quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 531 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of CEVA by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock valued at $441,000 after purchasing an additional 808 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in CEVA by 63.3% in the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 922 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.

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.