CEVA, Inc. (NASDAQ:CEVA) Director Louis Silver Sells 4,520 Shares

CEVA, Inc. (NASDAQ:CEVA) Director Louis Silver sold 4,520 shares of the company’s stock in a transaction 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 transaction, the director now owns 47,038 shares in the company, valued at $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CEVA Trading Down 2.8 %

CEVA stock opened at $29.78 on Wednesday. The stock has a market cap of $708.97 million, a P/E ratio of -80.48 and a beta of 1.32. The company has a fifty day simple moving average of $32.97 and a 200-day simple moving average of $29.21. CEVA, Inc. has a 12-month low of $16.02 and a 12-month high of $38.94.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CEVA. Barclays raised their target price on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price target on shares of CEVA in a research report on Tuesday, February 11th. Finally, Northland Securities increased 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.60.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. US Bancorp DE boosted its stake in CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 779 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in CEVA in the fourth quarter valued at approximately $40,000. Meeder Asset Management Inc. acquired a new stake in shares of CEVA in the fourth quarter valued at approximately $46,000. Point72 DIFC Ltd increased its holdings in shares of CEVA by 16.8% in the 3rd quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 378 shares during the period. 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 valued at $75,000 after purchasing an additional 922 shares during the last quarter. Institutional investors and hedge funds 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.