CEVA (NASDAQ:CEVA) Trading Down 4.9%

CEVA, Inc. (NASDAQ:CEVA) dropped 4.9% on Monday . The stock traded as low as $23.70 and last traded at $23.70. Approximately 33,462 shares changed hands during trading, a decline of 78% from the average daily volume of 148,776 shares. The stock had previously closed at $24.92.

Wall Street Analysts Forecast Growth

CEVA has been the subject of several research reports. StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and raised their price target for the stock from $20.00 to $25.00 in a report on Thursday, August 8th. Finally, Oppenheimer raised their price target on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CEVA presently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

CEVA Stock Down 1.0 %

The stock has a 50-day simple moving average of $21.79 and a two-hundred day simple moving average of $21.12. The firm has a market cap of $543.09 million, a PE ratio of -43.45 and a beta of 1.19.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $24.47 million. Research analysts expect that CEVA, Inc. will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On CEVA

Several institutional investors have recently bought and sold shares of CEVA. Quadrant Capital Group LLC boosted its holdings in CEVA by 122.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 641 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in CEVA during the 4th quarter valued at about $358,000. Trexquant Investment LP purchased a new stake in CEVA during the 4th quarter valued at about $1,731,000. Congress Asset Management Co. MA purchased a new stake in CEVA during the 4th quarter valued at about $383,000. Finally, BNP Paribas Financial Markets boosted its holdings in CEVA by 22.4% during the 1st quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock valued at $816,000 after acquiring an additional 6,580 shares during the period. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

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.