Mirae Asset Global Investments Co. Ltd. Sells 6,723 Shares of CEVA, Inc. (NASDAQ:CEVA)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in CEVA, Inc. (NASDAQ:CEVA) by 15.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,573 shares of the semiconductor company’s stock after selling 6,723 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CEVA were worth $866,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CEVA. BNP Paribas Financial Markets raised its position in CEVA by 22.4% in the 1st quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock valued at $816,000 after purchasing an additional 6,580 shares during the last quarter. Swiss National Bank raised its position in CEVA by 5.0% in the 1st quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock valued at $1,056,000 after purchasing an additional 2,200 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in CEVA in the 1st quarter valued at $245,000. Vanguard Group Inc. raised its position in shares of CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after acquiring an additional 62,734 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of CEVA by 67.9% during the first quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock worth $11,887,000 after acquiring an additional 211,697 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CEVA. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of CEVA in a research report on Thursday. Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $25.00 in a research report on Thursday, August 8th. Finally, Oppenheimer boosted their target price on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

CEVA Price Performance

CEVA stock opened at $23.68 on Friday. The stock has a market capitalization of $560.98 million, a P/E ratio of -81.65 and a beta of 1.19. The business has a 50-day moving average of $24.01 and a 200-day moving average of $21.45. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $25.74.

CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. The business had revenue of $28.44 million for the quarter, compared to analyst estimates of $24.47 million. Equities analysts expect that CEVA, Inc. will post -0.31 EPS for the current 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.