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 report released on Tuesday.

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

CEVA Stock Up 1.8 %

Shares of NASDAQ:CEVA opened at $26.21 on Tuesday. The firm has a market cap of $626.68 million, a price-to-earnings ratio of -70.84 and a beta of 1.32. CEVA has a 12 month low of $16.02 and a 12 month high of $38.94. The company’s fifty day simple moving average is $31.73 and its 200 day simple moving average is $29.48.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (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%. Research analysts expect that CEVA will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Louis Silver sold 4,520 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the transaction, the director now owns 47,038 shares in the company, valued at approximately $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of CEVA by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,165,300 shares of the semiconductor company’s stock valued at $68,315,000 after acquiring an additional 24,313 shares during the period. AWM Investment Company Inc. raised its stake in CEVA by 18.0% in the 4th quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company’s stock worth $18,935,000 after purchasing an additional 91,668 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CEVA by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company’s stock valued at $13,505,000 after purchasing an additional 3,649 shares during the period. Northern Trust Corp boosted its holdings in CEVA by 14.3% in the 4th quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company’s stock valued at $8,530,000 after purchasing an additional 33,737 shares during the period. Finally, ArrowMark Colorado Holdings LLC grew its position in shares of CEVA by 199.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company’s stock worth $8,035,000 after purchasing an additional 169,677 shares in the last quarter. 85.37% of the stock is 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.