CEVA, Inc. (NASDAQ:CEVA) Shares Sold by State of Wyoming

State of Wyoming trimmed its stake in CEVA, Inc. (NASDAQ:CEVA) by 27.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,355 shares of the semiconductor company’s stock after selling 6,822 shares during the quarter. State of Wyoming’s holdings in CEVA were worth $579,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in CEVA by 55.9% in the third quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock valued at $2,801,000 after buying an additional 41,573 shares during the last quarter. Franklin Resources Inc. lifted its stake in CEVA by 59.8% in the third quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company’s stock valued at $842,000 after buying an additional 12,515 shares during the last quarter. Sei Investments Co. lifted its stake in CEVA by 21.5% in the fourth quarter. Sei Investments Co. now owns 67,986 shares of the semiconductor company’s stock valued at $2,145,000 after buying an additional 12,034 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in CEVA in the fourth quarter valued at $292,000. Finally, Principal Financial Group Inc. lifted its stake in CEVA by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company’s stock valued at $3,637,000 after buying an additional 3,171 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays cut their price objective on shares of CEVA from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Oppenheimer cut their price objective on shares of CEVA from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of CEVA in a research note on Thursday, May 8th. Finally, StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.60.

Insiders Place Their Bets

In related news, Director Louis Silver sold 4,520 shares of CEVA stock in a transaction dated 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 of the company’s stock, valued at approximately $1,457,237.24. This trade represents a 8.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

CEVA Trading Down 0.5%

Shares of CEVA stock opened at $21.23 on Monday. The company’s 50-day moving average price is $25.03 and its two-hundred day moving average price is $29.26. CEVA, Inc. has a 52 week low of $16.02 and a 52 week high of $38.94. The stock has a market cap of $507.61 million, a PE ratio of -57.38 and a beta of 1.37.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The business had revenue of $24.25 million during the quarter, compared to the consensus estimate of $26.55 million. During the same quarter last year, the firm posted ($0.05) earnings per share. CEVA’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

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.