CEVA, Inc. (NASDAQ:CEVA) Director Sells $140,029.60 in Stock

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

CEVA Trading Down 2.8 %

Shares of CEVA stock opened at $29.19 on Friday. The firm has a 50-day moving average price of $32.85 and a 200 day moving average price of $29.22. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94. The company has a market capitalization of $694.93 million, a price-to-earnings ratio of -78.89 and a beta of 1.32.

CEVA (NASDAQ:CEVA) last announced its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share 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%. As a group, research analysts predict that CEVA, Inc. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in shares of CEVA by 206.2% during the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after acquiring an additional 92,295 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of CEVA by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock valued at $2,801,000 after acquiring an additional 41,573 shares during the last quarter. Barclays PLC increased its stake in shares of CEVA by 389.8% during the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock valued at $1,011,000 after acquiring an additional 33,346 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of CEVA by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock valued at $5,385,000 after acquiring an additional 16,463 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CEVA by 97.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after acquiring an additional 104,453 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

Wall Street Analyst Weigh In

CEVA has been the subject of several research reports. Northland Securities lifted their price target on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Barclays lifted their price target on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price target on shares of CEVA in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

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.