CEVA, Inc. (NASDAQ:CEVA) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 222,979 shares of the semiconductor company’s stock after selling 31,502 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.94% of CEVA worth $7,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in CEVA during the fourth quarter worth about $40,000. Meeder Asset Management Inc. acquired a new stake in shares of CEVA in the fourth quarter valued at approximately $46,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CEVA in the fourth quarter valued at approximately $129,000. Cornerstone Investment Partners LLC acquired a new stake in shares of CEVA in the fourth quarter valued at approximately $215,000. Finally, Arizona State Retirement System acquired a new stake in shares of CEVA in the fourth quarter valued at approximately $217,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Stock Performance

Shares of CEVA opened at $21.23 on Friday. The company has a market capitalization of $507.61 million, a price-to-earnings ratio of -57.38 and a beta of 1.37. The company’s 50 day simple moving average is $25.03 and its 200 day simple moving average is $29.26. CEVA, Inc. has a 1 year low of $16.02 and a 1 year high of $38.94.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on CEVA. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of CEVA in a research report on Thursday, May 8th. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Barclays lowered their price target on shares of CEVA from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, Oppenheimer lowered their price target on shares of CEVA from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.60.

Insiders Place Their Bets

In other CEVA news, Director Louis Silver sold 4,520 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the transaction, the director now owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This trade represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

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.