CEVA (NASDAQ:CEVA) Cut to Hold at StockNews.com

StockNews.com downgraded shares of CEVA (NASDAQ:CEVA) from a buy rating to a hold rating in a research report released on Friday.

CEVA has been the subject of several other reports. Rosenblatt Securities upped their target price on shares of CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Roth Mkm lifted their price target on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Oppenheimer increased their price objective on CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

CEVA Price Performance

Shares of CEVA stock opened at $27.44 on Friday. The company has a 50 day simple moving average of $24.71 and a two-hundred day simple moving average of $21.98. The firm has a market cap of $648.41 million, a PE ratio of -192.91 and a beta of 1.20. CEVA has a 1 year low of $16.02 and a 1 year high of $30.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of CEVA by 22.4% in the first quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock worth $816,000 after purchasing an additional 6,580 shares during the last quarter. Swiss National Bank grew its holdings in CEVA by 5.0% in the 1st quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock worth $1,056,000 after acquiring an additional 2,200 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of CEVA in the first quarter valued at about $245,000. Vanguard Group Inc. raised its stake in shares of CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock valued at $67,428,000 after acquiring an additional 62,734 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of CEVA by 67.9% during the first quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock worth $11,887,000 after purchasing an additional 211,697 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.