nVerses Capital LLC Sells 600 Shares of CEVA, Inc. (NASDAQ:CEVA)

nVerses Capital LLC lowered its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 23.1% in the third quarter, Holdings Channel reports. The institutional investor owned 2,000 shares of the semiconductor company’s stock after selling 600 shares during the period. nVerses Capital LLC’s holdings in CEVA were worth $48,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of CEVA by 338.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 1,125 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of CEVA in the 2nd quarter valued at approximately $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in CEVA in the 2nd quarter worth approximately $65,000. State Board of Administration of Florida Retirement System purchased a new stake in CEVA during the 1st quarter worth approximately $245,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in CEVA during the 2nd quarter valued at approximately $227,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CEVA has been the topic of a number of research analyst reports. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $25.00 in a research note on Thursday, August 8th. Finally, Oppenheimer raised their price target on shares of CEVA from $29.00 to $33.00 and gave the company 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

CEVA Trading Up 0.6 %

NASDAQ:CEVA opened at $24.02 on Wednesday. The stock has a 50 day moving average of $23.98 and a two-hundred day moving average of $21.32. The firm has a market cap of $569.03 million, a P/E ratio of -82.82 and a beta of 1.19. CEVA, Inc. has a 12 month low of $16.02 and a 12 month high of $25.74.

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

CEVA 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.