CEVA, Inc. (NASDAQ:CEVA) Director Louis Silver Sells 4,730 Shares

CEVA, Inc. (NASDAQ:CEVAGet Free Report) Director Louis Silver sold 4,730 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.19, for a total transaction of $109,688.70. Following the transaction, the director now directly owns 40,576 shares of the company’s stock, valued at approximately $940,957.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

CEVA Price Performance

CEVA traded down $0.21 during trading hours on Tuesday, hitting $22.39. 13,193 shares of the stock were exchanged, compared to its average volume of 152,519. CEVA, Inc. has a 12 month low of $16.38 and a 12 month high of $30.57. The stock has a 50-day simple moving average of $21.77 and a 200-day simple moving average of $21.17. The stock has a market cap of $529.08 million, a price-to-earnings ratio of -44.31 and a beta of 1.14.

CEVA (NASDAQ:CEVAGet Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $24.16 million for the quarter, compared to analyst estimates of $24.32 million. CEVA had a negative return on equity of 5.30% and a negative net margin of 11.52%. The company’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. Sell-side analysts expect that CEVA, Inc. will post -0.35 EPS for the current year.

Hedge Funds Weigh In On CEVA

A number of hedge funds and other institutional investors have recently modified their holdings of CEVA. Quadrant Capital Group LLC boosted its position in CEVA by 122.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 641 shares during the period. PNC Financial Services Group Inc. boosted its position in CEVA by 99.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 798 shares during the period. Tower Research Capital LLC TRC boosted its position in CEVA by 122.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,992 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 1,097 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CEVA by 64.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,108 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,617 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in CEVA by 69.8% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,363 shares of the semiconductor company’s stock worth $85,000 after acquiring an additional 1,794 shares during the period. Institutional investors and hedge funds own 82.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of CEVA in a research note on Tuesday, February 13th. TD Cowen upped their price objective on shares of CEVA from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Check Out Our Latest Analysis on CEVA

CEVA Company Profile

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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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