CEVA, Inc. (NASDAQ:CEVA) Director Louis Silver Sells 4,730 Shares

CEVA, Inc. (NASDAQ:CEVAGet Free Report) Director Louis Silver sold 4,730 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $23.19, for a total value of $109,688.70. Following the completion of the sale, the director now directly owns 40,576 shares in the company, valued at approximately $940,957.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CEVA Price Performance

NASDAQ:CEVA opened at $22.38 on Wednesday. CEVA, Inc. has a 1 year low of $16.38 and a 1 year high of $30.57. The stock has a 50-day moving average price of $21.78 and a two-hundred day moving average price of $21.16.

CEVA (NASDAQ:CEVAGet Free Report) last posted its earnings results on Wednesday, February 14th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $24.16 million during the quarter, compared to analysts’ expectations of $24.32 million. CEVA had a negative return on equity of 5.30% and a negative net margin of 11.52%. The company’s revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. Research analysts expect that CEVA, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CEVA has been the topic of several recent research reports. TD Cowen lifted their price objective on CEVA from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 price objective on shares of CEVA in a research report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CEVA has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Get Our Latest Report on CEVA

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CEVA. Senvest Management LLC grew its holdings in shares of CEVA by 29.9% during the third quarter. Senvest Management LLC now owns 1,864,131 shares of the semiconductor company’s stock worth $36,146,000 after buying an additional 429,132 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of CEVA by 91.0% during the third quarter. Neuberger Berman Group LLC now owns 486,973 shares of the semiconductor company’s stock worth $12,786,000 after buying an additional 232,037 shares in the last quarter. Amundi grew its stake in CEVA by 36.9% in the fourth quarter. Amundi now owns 667,091 shares of the semiconductor company’s stock valued at $17,229,000 after purchasing an additional 179,676 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in CEVA by 13,776.3% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 180,947 shares of the semiconductor company’s stock valued at $4,110,000 after purchasing an additional 179,643 shares in the last quarter. Finally, State Street Corp grew its stake in CEVA by 13.2% in the second quarter. State Street Corp now owns 1,175,515 shares of the semiconductor company’s stock valued at $30,034,000 after purchasing an additional 136,669 shares in the last quarter. 82.73% of the stock is currently owned by institutional investors.

About CEVA

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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.

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