StockNews.com Downgrades CEVA (NASDAQ:CEVA) to Hold

CEVA (NASDAQ:CEVA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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

CEVA Stock Up 1.8 %

CEVA stock opened at $26.21 on Tuesday. The company has a market cap of $626.68 million, a PE ratio of -70.84 and a beta of 1.32. CEVA has a 52 week low of $16.02 and a 52 week high of $38.94. The business has a 50-day simple moving average of $31.73 and a 200 day simple moving average of $29.48.

CEVA (NASDAQ:CEVA) last issued its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. On average, analysts anticipate that CEVA will post -0.12 EPS for the current fiscal year.

Insider Activity

In other 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 transaction, the director now owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CEVA

Several institutional investors and hedge funds have recently added to or reduced their stakes in CEVA. Point72 DIFC Ltd increased its stake in shares of CEVA by 16.8% in the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 378 shares during the period. Franklin Resources Inc. boosted its holdings in CEVA by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company’s stock valued at $1,071,000 after acquiring an additional 507 shares during the last quarter. Magnetar Financial LLC increased its position in CEVA by 2.8% during 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 during the period. Tidal Investments LLC raised its holdings in CEVA by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock worth $441,000 after purchasing an additional 808 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of 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. 85.37% of the stock is currently owned by institutional investors and hedge funds.

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.