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

CEVA, Inc. (NASDAQ:CEVA) Director Louis Silver sold 4,520 shares of the stock in a transaction 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 sale, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link.

CEVA Stock Down 2.8 %

Shares of CEVA opened at $29.78 on Wednesday. The firm’s fifty day moving average is $32.97 and its two-hundred day moving average is $29.21. The stock has a market cap of $708.97 million, a PE ratio of -80.48 and a beta of 1.32. CEVA, Inc. has a 52-week low of $16.02 and a 52-week 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, research analysts anticipate that CEVA, Inc. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CEVA has been the topic of a number of analyst reports. Northland Securities raised their target price on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of CEVA in a research note on Tuesday, February 11th. Finally, 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.60.

Institutional Trading of CEVA

Several large investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. grew its holdings in shares of CEVA by 5.9% in the fourth quarter. Centaurus Financial Inc. now owns 19,158 shares of the semiconductor company’s stock valued at $604,000 after purchasing an additional 1,075 shares during the period. AWM Investment Company Inc. raised its position in shares of CEVA by 18.0% during the 4th quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company’s stock valued at $18,935,000 after buying an additional 91,668 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in CEVA by 9.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,546 shares of the semiconductor company’s stock worth $1,279,000 after acquiring an additional 3,584 shares during the period. Man Group plc purchased a new stake in CEVA in the fourth quarter valued at $1,484,000. Finally, Lazard Asset Management LLC acquired a new position in shares of CEVA in the 4th quarter valued at $457,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

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.